Correlation Between Clearside Biomedical and CI GAMES

Can any of the company-specific risk be diversified away by investing in both Clearside Biomedical and CI GAMES 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 Clearside Biomedical and CI GAMES into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Clearside Biomedical and CI GAMES SA, you can compare the effects of market volatilities on Clearside Biomedical and CI GAMES 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 Clearside Biomedical with a short position of CI GAMES. Check out your portfolio center. Please also check ongoing floating volatility patterns of Clearside Biomedical and CI GAMES.

Diversification Opportunities for Clearside Biomedical and CI GAMES

-0.32

Correlation Coefficient

Clearside Biomedical  CI GAMES

Very good diversification

The 3 months correlation between Clearside and CI7 is -0.32. Overlapping area represents the amount of risk that can be diversified away by holding Clearside Biomedical and CI GAMES SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CI GAMES SA and Clearside Biomedical 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 Clearside Biomedical are associated (or correlated) with CI GAMES. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CI GAMES SA has no effect on the direction of Clearside Biomedical i.e., Clearside Biomedical and CI GAMES go up and down completely randomly.

Pair Corralation between Clearside Biomedical and CI GAMES

Assuming the 90 days trading horizon Clearside Biomedical is expected to under-perform the CI GAMES. In addition to that, Clearside Biomedical is 1.4 times more volatile than CI GAMES SA. It trades about -0.07 of its total potential returns per unit of risk. CI GAMES SA is currently generating about 0.25 per unit of volatility. If you would invest  36.00  in CI GAMES SA on April 22, 2025 and sell it today you would earn a total of  24.00  from holding CI GAMES SA or generate 66.67% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Insignificant
Accuracy	100.0%
Values	Daily Returns

Clearside Biomedical  vs.  CI GAMES SA

Clearside Biomedical

Risk-Adjusted Performance

Very Weak

Over the last 90 days Clearside Biomedical has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fragile performance in the last few months, the Stock's primary indicators remain comparatively stable which may send shares a bit higher in August 2025. The newest uproar may also be a sign of mid-term up-swing for the firm private investors.

CI GAMES SA

Risk-Adjusted Performance

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in CI GAMES SA are ranked lower than 19 (%) of all global equities and portfolios over the last 90 days. Despite nearly uncertain basic indicators, CI GAMES reported solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Clearside Biomedical and CI GAMES

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

The idea behind Clearside Biomedical and CI GAMES SA 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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.