Correlation Between Criteo Sa and Meredith
Can any of the company-specific risk be diversified away by investing in both Criteo Sa and Meredith 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 Criteo Sa and Meredith into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Criteo Sa and Meredith, you can compare the effects of market volatilities on Criteo Sa and Meredith 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 Criteo Sa with a short position of Meredith. Check out your portfolio center. Please also check ongoing floating volatility patterns of Criteo Sa and Meredith.
Diversification Opportunities for Criteo Sa and Meredith
Pay attention - limited upside
The 3 months correlation between Criteo and Meredith is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Criteo Sa and Meredith in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Meredith and Criteo Sa 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 Criteo Sa are associated (or correlated) with Meredith. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Meredith has no effect on the direction of Criteo Sa i.e., Criteo Sa and Meredith go up and down completely randomly.
Pair Corralation between Criteo Sa and Meredith
If you would invest 3,344 in Criteo Sa on September 2, 2024 and sell it today you would earn a total of 734.00 from holding Criteo Sa or generate 21.95% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Criteo Sa vs. Meredith
Performance |
| Timeline |
| Criteo Sa |
| Meredith |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Criteo Sa and Meredith Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Criteo Sa and Meredith
The main advantage of trading using opposite Criteo Sa and Meredith positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Criteo Sa position performs unexpectedly, Meredith 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 Meredith will offset losses from the drop in Meredith's long position.| Criteo Sa vs. Deluxe | Criteo Sa vs. Emerald Expositions Events | Criteo Sa vs. Marchex | Criteo Sa vs. Integral Ad Science |
| Meredith vs. Cimpress NV | Meredith vs. QuinStreet | Meredith vs. Criteo Sa | Meredith vs. Interpublic Group of |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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