Correlation Between Electronic Arts and SINA
Can any of the company-specific risk be diversified away by investing in both Electronic Arts and SINA 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 Electronic Arts and SINA into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Electronic Arts and SINA Corporation, you can compare the effects of market volatilities on Electronic Arts and SINA 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 Electronic Arts with a short position of SINA. Check out your portfolio center. Please also check ongoing floating volatility patterns of Electronic Arts and SINA.
Diversification Opportunities for Electronic Arts and SINA
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Electronic and SINA is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Electronic Arts and SINA Corp. in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SINA and Electronic Arts 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 Electronic Arts are associated (or correlated) with SINA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SINA has no effect on the direction of Electronic Arts i.e., Electronic Arts and SINA go up and down completely randomly.
Pair Corralation between Electronic Arts and SINA
If you would invest (100.00) in SINA Corporation on January 26, 2024 and sell it today you would earn a total of 100.00 from holding SINA Corporation or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Electronic Arts vs. SINA Corp.
Performance |
| Timeline |
| Electronic Arts |
| SINA |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Electronic Arts and SINA Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Electronic Arts and SINA
The main advantage of trading using opposite Electronic Arts and SINA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Electronic Arts position performs unexpectedly, SINA 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 SINA will offset losses from the drop in SINA's long position.| Electronic Arts vs. Mobile Global Esports | Electronic Arts vs. GD Culture Group | Electronic Arts vs. Playstudios | Electronic Arts vs. Tiidal Gaming Group |
| SINA vs. Mitsubishi UFJ Lease | SINA vs. Loandepot | SINA vs. U Haul Holding | SINA vs. The Hanover Insurance |
Check out your portfolio center.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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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