Correlation Between Uniserve Communications and TGS Esports

Can any of the company-specific risk be diversified away by investing in both Uniserve Communications and TGS Esports 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 Uniserve Communications and TGS Esports into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Uniserve Communications Corp and TGS Esports, you can compare the effects of market volatilities on Uniserve Communications and TGS Esports 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 Uniserve Communications with a short position of TGS Esports. Check out your portfolio center. Please also check ongoing floating volatility patterns of Uniserve Communications and TGS Esports.

Diversification Opportunities for Uniserve Communications and TGS Esports

0.0

Correlation Coefficient

Uniserve Communications  TGS Esports

Pay attention - limited upside

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

Pair Corralation between Uniserve Communications and TGS Esports

If you would invest  23.00  in Uniserve Communications Corp on April 20, 2025 and sell it today you would earn a total of  22.00  from holding Uniserve Communications Corp or generate 95.65% return on investment over 90 days.

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

Uniserve Communications Corp  vs.  TGS Esports

Uniserve Communications

Risk-Adjusted Performance

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in Uniserve Communications Corp are ranked lower than 21 (%) of all global equities and portfolios over the last 90 days. In spite of fairly unfluctuating basic indicators, Uniserve Communications showed solid returns over the last few months and may actually be approaching a breakup point.

TGS Esports

Risk-Adjusted Performance

Very Weak

Over the last 90 days TGS Esports has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fairly stable basic indicators, TGS Esports is not utilizing all of its potentials. The recent stock price fuss, may contribute to near-short-term losses for the sophisticated investors.

Pair Trading with Uniserve Communications and TGS Esports

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

The idea behind Uniserve Communications Corp and TGS Esports 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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.