International Game Correlations

IGT Stock  USD 20.42  0.01  0.05%   
The current 90-days correlation between International Game and Acushnet Holdings Corp is 0.4 (i.e., Very weak diversification). The correlation of International Game is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

International Game Correlation With Market

Very weak diversification

The correlation between International Game Technology and DJI is 0.57 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding International Game Technology and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in International Game Technology. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with International Stock

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  0.7HD Home DepotPairCorr

Moving against International Stock

  0.64GE GE Aerospace Financial Report 23rd of July 2024 PairCorr
  0.37AXP American Express Financial Report 19th of July 2024 PairCorr
  0.36AA Alcoa Corp Financial Report 17th of July 2024 PairCorr
  0.35EC Ecopetrol SA ADRPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
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High negative correlations   
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Risk-Adjusted Indicators

There is a big difference between International Stock performing well and International Game Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze International Game's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.