Correlation Between NanoTech Gaming and QVC

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

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

Diversification Opportunities for NanoTech Gaming and QVC

0.0

Correlation Coefficient

NanoTech Gaming  QVC

Pay attention - limited upside

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

Pair Corralation between NanoTech Gaming and QVC

If you would invest  500.00  in QVC Group on May 19, 2025 and sell it today you would lose (83.00) from holding QVC Group or give up 16.6% of portfolio value over 90 days.

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

NanoTech Gaming  vs.  QVC Group

NanoTech Gaming

Risk-Adjusted Performance

Weakest

Over the last 90 days NanoTech Gaming has generated negative risk-adjusted returns adding no value to investors with long positions. Despite quite persistent technical and fundamental indicators, NanoTech Gaming is not utilizing all of its potentials. The latest stock price mess, may contribute to short-term losses for the institutional investors.

QVC Group

Risk-Adjusted Performance

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in QVC Group are ranked lower than 1 (%) of all global equities and portfolios over the last 90 days. Despite somewhat uncertain technical and fundamental indicators, QVC may actually be approaching a critical reversion point that can send shares even higher in September 2025.

Pair Trading with NanoTech Gaming and QVC

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

The idea behind NanoTech Gaming and QVC Group 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.

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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.