Correlation Between TGS Esports and Mako Mining
Can any of the company-specific risk be diversified away by investing in both TGS Esports and Mako Mining at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining TGS Esports and Mako Mining into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between TGS Esports and Mako Mining Corp, you can compare the effects of market volatilities on TGS Esports and Mako Mining and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in TGS Esports with a short position of Mako Mining. Check out your portfolio center. Please also check ongoing floating volatility patterns of TGS Esports and Mako Mining.
Diversification Opportunities for TGS Esports and Mako Mining
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between TGS and Mako is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding TGS Esports and Mako Mining Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mako Mining Corp and TGS Esports is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on TGS Esports are associated (or correlated) with Mako Mining. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mako Mining Corp has no effect on the direction of TGS Esports i.e., TGS Esports and Mako Mining go up and down completely randomly.
Pair Corralation between TGS Esports and Mako Mining
If you would invest 659.00 in Mako Mining Corp on September 8, 2025 and sell it today you would earn a total of 119.00 from holding Mako Mining Corp or generate 18.06% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 98.46% |
| Values | Daily Returns |
TGS Esports vs. Mako Mining Corp
Performance |
| Timeline |
| TGS Esports |
| Mako Mining Corp |
TGS Esports and Mako Mining Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with TGS Esports and Mako Mining
The main advantage of trading using opposite TGS Esports and Mako Mining positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if TGS Esports position performs unexpectedly, Mako Mining can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Mako Mining will offset losses from the drop in Mako Mining's long position.| TGS Esports vs. Sarama Resource | TGS Esports vs. Petro Victory Energy Corp | TGS Esports vs. Silver Bear Resources | TGS Esports vs. High Arctic Energy |
| Mako Mining vs. Dream Industrial Real | Mako Mining vs. Atrium Mortgage Investment | Mako Mining vs. Brookfield Office Properties | Mako Mining vs. Cogeco Communications |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Portfolio Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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