Correlation Between Catalyst Media and ACG Acquisition
Can any of the company-specific risk be diversified away by investing in both Catalyst Media and ACG Acquisition 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 Catalyst Media and ACG Acquisition into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Catalyst Media Group and ACG Acquisition Co, you can compare the effects of market volatilities on Catalyst Media and ACG Acquisition 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 Catalyst Media with a short position of ACG Acquisition. Check out your portfolio center. Please also check ongoing floating volatility patterns of Catalyst Media and ACG Acquisition.
Diversification Opportunities for Catalyst Media and ACG Acquisition
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Catalyst and ACG is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Catalyst Media Group and ACG Acquisition Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ACG Acquisition and Catalyst Media 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 Catalyst Media Group are associated (or correlated) with ACG Acquisition. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ACG Acquisition has no effect on the direction of Catalyst Media i.e., Catalyst Media and ACG Acquisition go up and down completely randomly.
Pair Corralation between Catalyst Media and ACG Acquisition
If you would invest 0.00 in ACG Acquisition Co on December 4, 2024 and sell it today you would earn a total of 0.00 from holding ACG Acquisition Co or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 4.76% |
| Values | Daily Returns |
Catalyst Media Group vs. ACG Acquisition Co
Performance |
| Timeline |
| Catalyst Media Group |
| ACG Acquisition |
Risk-Adjusted Performance
OK
Weak | Strong |
Catalyst Media and ACG Acquisition Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Catalyst Media and ACG Acquisition
The main advantage of trading using opposite Catalyst Media and ACG Acquisition positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Catalyst Media position performs unexpectedly, ACG Acquisition 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 ACG Acquisition will offset losses from the drop in ACG Acquisition's long position.| Catalyst Media vs. Coeur Mining | Catalyst Media vs. Metals Exploration Plc | Catalyst Media vs. Cars Inc | Catalyst Media vs. St Galler Kantonalbank |
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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 Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.
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