Correlation Between PAMT P and Corsair Gaming

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

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

Diversification Opportunities for PAMT P and Corsair Gaming

0.76

Correlation Coefficient

PAMT P  Corsair Gaming

Poor diversification

The 3 months correlation between PAMT and Corsair is 0.76. Overlapping area represents the amount of risk that can be diversified away by holding PAMT P and Corsair Gaming in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Corsair Gaming and PAMT P 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 PAMT P are associated (or correlated) with Corsair Gaming. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Corsair Gaming has no effect on the direction of PAMT P i.e., PAMT P and Corsair Gaming go up and down completely randomly.

Pair Corralation between PAMT P and Corsair Gaming

Given the investment horizon of 90 days PAMT P is expected to under-perform the Corsair Gaming. In addition to that, PAMT P is 1.32 times more volatile than Corsair Gaming. It trades about -0.09 of its total potential returns per unit of risk. Corsair Gaming is currently generating about -0.08 per unit of volatility. If you would invest  932.00  in Corsair Gaming on July 4, 2025 and sell it today you would lose (135.00) from holding Corsair Gaming or give up 14.48% of portfolio value over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Significant
Accuracy	98.41%
Values	Daily Returns

PAMT P  vs.  Corsair Gaming

PAMT P

Risk-Adjusted Performance

Weakest

Over the last 90 days PAMT P has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of inconsistent performance in the last few months, the Stock's primary indicators remain comparatively stable which may send shares a bit higher in November 2025. The newest uproar may also be a sign of mid-term up-swing for the firm private investors.

Corsair Gaming

Risk-Adjusted Performance

Weakest

Over the last 90 days Corsair Gaming has generated negative risk-adjusted returns adding no value to investors with long positions. Even with abnormal performance in the last few months, the Stock's basic indicators remain relatively invariable which may send shares a bit higher in November 2025. The latest agitation may also be a sign of long-running up-swing for the enterprise retail investors.

Pair Trading with PAMT P and Corsair Gaming

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

The idea behind PAMT P and Corsair 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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.