BRAGG GAMING Correlations

Stocks . Germany . 
Stock . BRAGG GAMING GRP
SL4 Stock   3.92  0.08  2.00%   
The correlation of BRAGG GAMING is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

BRAGG GAMING Correlation With Market

Modest diversification

The correlation between BRAGG GAMING GRP and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BRAGG GAMING GRP and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to BRAGG GAMING could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BRAGG GAMING when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back BRAGG GAMING - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling BRAGG GAMING GRP to buy it.

Moving together with BRAGG Stock

  0.66VOL4 VOLVO B UNSPADRPairCorr
  0.68MUM MENSCH UND MASCHINE Earnings Call This WeekPairCorr
  0.67E908 Lyxor 1PairCorr
  0.74DBPE Xtrackers LevDAXPairCorr

Moving against BRAGG Stock

  0.75DBPD Xtrackers ShortDAXPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
I8M
+ 0.83
AP3
A3J
+ 0.8
I8M
COE
+ 0.79
I8M
COE
+ 0.74
AP3
COE
+ 0.71
A3J
A3J
+ 0.67
AP3
  
High negative correlations   
COE
- 0.0
K20A
A3J
- 0.0
K20A
I8M
- 0.0
K20A
NSC
- 0.0
K20A
K20A
- 0.0
AP3

Risk-Adjusted Indicators

There is a big difference between BRAGG Stock performing well and BRAGG GAMING Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze BRAGG GAMING's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

Be your own money manager

Our tools can tell you how much better you can do entering a position in BRAGG GAMING without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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