Correlation Between FUTURE GAMING and Superior Industries

Can any of the company-specific risk be diversified away by investing in both FUTURE GAMING and Superior Industries 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 FUTURE GAMING and Superior Industries into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between FUTURE GAMING GRP and Superior Industries International, you can compare the effects of market volatilities on FUTURE GAMING and Superior Industries 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 FUTURE GAMING with a short position of Superior Industries. Check out your portfolio center. Please also check ongoing floating volatility patterns of FUTURE GAMING and Superior Industries.

Diversification Opportunities for FUTURE GAMING and Superior Industries

0.0

Correlation Coefficient

FUTURE GAMING  Superior Industries

Pay attention - limited upside

The 3 months correlation between FUTURE and Superior is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding FUTURE GAMING GRP and Superior Industries Internatio in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Superior Industries and FUTURE GAMING 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 FUTURE GAMING GRP are associated (or correlated) with Superior Industries. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Superior Industries has no effect on the direction of FUTURE GAMING i.e., FUTURE GAMING and Superior Industries go up and down completely randomly.

Pair Corralation between FUTURE GAMING and Superior Industries

If you would invest  42.00  in FUTURE GAMING GRP on April 23, 2025 and sell it today you would earn a total of  6.00  from holding FUTURE GAMING GRP or generate 14.29% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	0.0%
Values	Daily Returns

FUTURE GAMING GRP  vs.  Superior Industries Internatio

FUTURE GAMING GRP

Risk-Adjusted Performance

Modest

Compared to the overall equity markets, risk-adjusted returns on investments in FUTURE GAMING GRP are ranked lower than 5 (%) of all global equities and portfolios over the last 90 days. Despite nearly fragile basic indicators, FUTURE GAMING reported solid returns over the last few months and may actually be approaching a breakup point.

Superior Industries

Risk-Adjusted Performance

Very Weak

Over the last 90 days Superior Industries International has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of comparatively stable basic indicators, Superior Industries is not utilizing all of its potentials. The current stock price uproar, may contribute to short-horizon losses for the private investors.

Pair Trading with FUTURE GAMING and Superior Industries

The main advantage of trading using opposite FUTURE GAMING and Superior Industries positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FUTURE GAMING position performs unexpectedly, Superior Industries 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 Superior Industries will offset losses from the drop in Superior Industries' long position.

The idea behind FUTURE GAMING GRP and Superior Industries International pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.