Correlation Between Ayima Group and Catena Media
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By analyzing existing cross correlation between Ayima Group AB and Catena Media plc, you can compare the effects of market volatilities on Ayima Group and Catena Media 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 Ayima Group with a short position of Catena Media. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ayima Group and Catena Media.
Diversification Opportunities for Ayima Group and Catena Media
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Ayima and Catena is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Ayima Group AB and Catena Media plc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Catena Media plc and Ayima Group 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 Ayima Group AB are associated (or correlated) with Catena Media. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Catena Media plc has no effect on the direction of Ayima Group i.e., Ayima Group and Catena Media go up and down completely randomly.
Pair Corralation between Ayima Group and Catena Media
If you would invest 332.00 in Ayima Group AB on August 29, 2024 and sell it today you would earn a total of 0.00 from holding Ayima Group AB or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ayima Group AB vs. Catena Media plc
Performance |
| Timeline |
| Ayima Group AB |
| Catena Media plc |
Ayima Group and Catena Media Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ayima Group and Catena Media
The main advantage of trading using opposite Ayima Group and Catena Media positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ayima Group position performs unexpectedly, Catena Media 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 Catena Media will offset losses from the drop in Catena Media's long position.| Ayima Group vs. Catena Media plc | Ayima Group vs. Better Collective | Ayima Group vs. Betsson AB | Ayima Group vs. Kambi Group PLC |
| Catena Media vs. Betsson AB | Catena Media vs. Kambi Group PLC | Catena Media vs. Better Collective | Catena Media vs. Evolution AB |
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 CEOs Directory module to screen CEOs from public companies around the world.
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