Correlation Between Advantex Marketing and Criteo Sa
Can any of the company-specific risk be diversified away by investing in both Advantex Marketing and Criteo Sa 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 Advantex Marketing and Criteo Sa into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Advantex Marketing International and Criteo Sa, you can compare the effects of market volatilities on Advantex Marketing and Criteo Sa 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 Advantex Marketing with a short position of Criteo Sa. Check out your portfolio center. Please also check ongoing floating volatility patterns of Advantex Marketing and Criteo Sa.
Diversification Opportunities for Advantex Marketing and Criteo Sa
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Advantex and Criteo is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Advantex Marketing Internation and Criteo Sa in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Criteo Sa and Advantex Marketing 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 Advantex Marketing International are associated (or correlated) with Criteo Sa. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Criteo Sa has no effect on the direction of Advantex Marketing i.e., Advantex Marketing and Criteo Sa go up and down completely randomly.
Pair Corralation between Advantex Marketing and Criteo Sa
If you would invest 3,368 in Criteo Sa on September 1, 2024 and sell it today you would earn a total of 710.00 from holding Criteo Sa or generate 21.08% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
Advantex Marketing Internation vs. Criteo Sa
Performance |
| Timeline |
| Advantex Marketing |
| Criteo Sa |
Advantex Marketing and Criteo Sa Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Advantex Marketing and Criteo Sa
The main advantage of trading using opposite Advantex Marketing and Criteo Sa positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Advantex Marketing position performs unexpectedly, Criteo Sa 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 Criteo Sa will offset losses from the drop in Criteo Sa's long position.| Advantex Marketing vs. Travelzoo | Advantex Marketing vs. Emerald Expositions Events | Advantex Marketing vs. Ziff Davis | Advantex Marketing vs. Direct Digital Holdings |
| Criteo Sa vs. Deluxe | Criteo Sa vs. Emerald Expositions Events | Criteo Sa vs. Marchex | Criteo Sa vs. Integral Ad Science |
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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
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