Correlation Between Maplebear and Silicon Gaming

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

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

Diversification Opportunities for Maplebear and Silicon Gaming

0.0

Correlation Coefficient

Maplebear  Silicon Gaming

Pay attention - limited upside

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

Pair Corralation between Maplebear and Silicon Gaming

If you would invest  8.00  in Silicon Gaming on May 19, 2025 and sell it today you would earn a total of  0.00  from holding Silicon Gaming or generate 0.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	96.92%
Values	Daily Returns

Maplebear  vs.  Silicon Gaming

Maplebear

Risk-Adjusted Performance

Weakest

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

Silicon Gaming

Risk-Adjusted Performance

Weakest

Over the last 90 days Silicon Gaming has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound forward indicators, Silicon Gaming is not utilizing all of its potentials. The current stock price tumult, may contribute to shorter-term losses for the shareholders.

Pair Trading with Maplebear and Silicon Gaming

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

The idea behind Maplebear and Silicon Gaming 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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.