Evolution Gaming Correlations
| EVVTY Stock | USD 108.35 0.69 0.63% |
The correlation of Evolution 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Evolution Gaming moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Evolution Gaming Group moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Significant diversification
The correlation between Evolution Gaming Group and NYA is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Evolution Gaming Group and NYA in the same portfolio, assuming nothing else is changed.
Evolution |
The ability to find closely correlated positions to Evolution 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 Evolution 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 Evolution 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 Evolution Gaming Group to buy it.
Moving together with Evolution Pink Sheet
| 0.95 | EVGGF | Evolution AB | PairCorr |
| 0.88 | KEP | Korea Electric Power | PairCorr |
| 0.93 | TLK | Telkom Indonesia Tbk | PairCorr |
| 0.63 | TM | Toyota Motor | PairCorr |
Moving against Evolution Pink Sheet
| 0.83 | TAST | Carrols Restaurant | PairCorr |
| 0.8 | CHDN | Churchill Downs | PairCorr |
| 0.78 | CRAI | CRA International | PairCorr |
| 0.77 | PDYPF | Flutter Entertainment Plc | PairCorr |
| 0.75 | EC | Ecopetrol SA ADR | PairCorr |
| 0.72 | PDYPY | Flutter Entertainment PLC | PairCorr |
| 0.69 | FNMFO | Federal National Mortgage | PairCorr |
| 0.62 | CGNX | Cognex | PairCorr |
| 0.41 | OXY | Occidental Petroleum Sell-off Trend | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Evolution Pink Sheet performing well and Evolution 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 Evolution 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.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| LNW | 1.55 | 0.00 | 0.02 | 0.04 | 1.73 | 3.65 | 9.54 | |||
| EPD | 0.55 | 0.04 | 0.02 | 0.19 | 0.70 | 1.12 | 3.18 | |||
| PHM | 1.42 | 0.05 | 0.05 | 0.06 | 1.83 | 2.45 | 8.21 | |||
| NVDA | 2.34 | 0.45 | 0.15 | 0.41 | 2.69 | 4.47 | 17.16 | |||
| RGA | 0.91 | 0.27 | 0.21 | 0.63 | 0.86 | 2.15 | 6.71 | |||
| CSL | 1.09 | 0.25 | 0.19 | 0.23 | 1.01 | 2.44 | 7.06 | |||
| OSK | 1.07 | 0.05 | 0.04 | 0.07 | 1.60 | 2.47 | 7.70 | |||
| HPE | 1.34 | 0.30 | 0.18 | 0.46 | 1.22 | 2.77 | 14.79 | |||
| FIX | 1.83 | 0.45 | 0.22 | 0.30 | 1.80 | 4.03 | 17.88 | |||
| CRAI | 1.27 | 0.63 | 0.52 | 0.61 | 0.42 | 3.06 | 15.07 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Evolution 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.Did you try this?
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Evolution Gaming Corporate Management
Elected by the shareholders, the Evolution Gaming's board of directors comprises two types of representatives: Evolution Gaming inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Evolution. The board's role is to monitor Evolution Gaming's management team and ensure that shareholders' interests are well served. Evolution Gaming's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Evolution Gaming's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Carl Linton | Head IR | Profile | |
| David Craelius | Chief Officer | Profile | |
| Richard Hadida | CoFounder Group | Profile | |
| Jacob Kaplan | Chief Officer | Profile | |
| Fredrik sterberg | CoFounder Director | Profile | |
| Martin Carlesund | Group Officer | Profile |
Already Invested in Evolution Gaming Group?
The danger of trading Evolution Gaming Group is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Evolution Gaming is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Evolution Gaming. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Evolution Gaming is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Evolution Gaming Group. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in estimate. You can also try the Portfolio Center module to all portfolio management and optimization tools to improve performance of your portfolios.
Complementary Tools for Evolution Pink Sheet analysis
When running Evolution Gaming's price analysis, check to measure Evolution Gaming's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Evolution Gaming is operating at the current time. Most of Evolution Gaming's value examination focuses on studying past and present price action to predict the probability of Evolution Gaming's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Evolution Gaming's price. Additionally, you may evaluate how the addition of Evolution Gaming to your portfolios can decrease your overall portfolio volatility.
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