Correlation Between Silicon Gaming and Avant Technologies

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

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

Diversification Opportunities for Silicon Gaming and Avant Technologies

0.0

Correlation Coefficient

Silicon Gaming  Avant Technologies

Pay attention - limited upside

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

Pair Corralation between Silicon Gaming and Avant Technologies

If you would invest  8.00  in Silicon Gaming on May 18, 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	96.88%
Values	Daily Returns

Silicon Gaming  vs.  Avant Technologies

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.

Avant Technologies

Risk-Adjusted Performance

Weakest

Over the last 90 days Avant Technologies has generated negative risk-adjusted returns adding no value to investors with long positions. Despite unfluctuating performance in the last few months, the Stock's basic indicators remain fairly strong which may send shares a bit higher in September 2025. The recent confusion may also be a sign of long-lasting up-swing for the firm traders.

Pair Trading with Silicon Gaming and Avant Technologies

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

The idea behind Silicon Gaming and Avant Technologies 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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.