Correlation Between Criteo Sa and Quotient Technology
Can any of the company-specific risk be diversified away by investing in both Criteo Sa and Quotient Technology 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 Quotient Technology into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Criteo Sa and Quotient Technology, you can compare the effects of market volatilities on Criteo Sa and Quotient Technology 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 Quotient Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Criteo Sa and Quotient Technology.
Diversification Opportunities for Criteo Sa and Quotient Technology
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Criteo and Quotient is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Criteo Sa and Quotient Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Quotient Technology 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 Quotient Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Quotient Technology has no effect on the direction of Criteo Sa i.e., Criteo Sa and Quotient Technology go up and down completely randomly.
Pair Corralation between Criteo Sa and Quotient Technology
If you would invest 2,593 in Criteo Sa on August 28, 2024 and sell it today you would earn a total of 1,409 from holding Criteo Sa or generate 54.34% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.48% |
| Values | Daily Returns |
Criteo Sa vs. Quotient Technology
Performance |
| Timeline |
| Criteo Sa |
| Quotient Technology |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Criteo Sa and Quotient Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Criteo Sa and Quotient Technology
The main advantage of trading using opposite Criteo Sa and Quotient Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Criteo Sa position performs unexpectedly, Quotient Technology 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 Quotient Technology will offset losses from the drop in Quotient Technology's long position.| Criteo Sa vs. Deluxe | Criteo Sa vs. Emerald Expositions Events | Criteo Sa vs. Marchex | Criteo Sa vs. Integral Ad Science |
| Quotient Technology vs. Emerald Expositions Events | Quotient Technology vs. Mirriad Advertising plc | Quotient Technology vs. INEO Tech Corp | Quotient Technology vs. Marchex |
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 Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.
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