Correlation Between Criteo Sa and Tremor Video
Can any of the company-specific risk be diversified away by investing in both Criteo Sa and Tremor Video 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 Tremor Video into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Criteo Sa and Tremor Video, you can compare the effects of market volatilities on Criteo Sa and Tremor Video 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 Tremor Video. Check out your portfolio center. Please also check ongoing floating volatility patterns of Criteo Sa and Tremor Video.
Diversification Opportunities for Criteo Sa and Tremor Video
-0.74 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Criteo and Tremor is -0.74. Overlapping area represents the amount of risk that can be diversified away by holding Criteo Sa and Tremor Video in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Tremor Video 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 Tremor Video. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Tremor Video has no effect on the direction of Criteo Sa i.e., Criteo Sa and Tremor Video go up and down completely randomly.
Pair Corralation between Criteo Sa and Tremor Video
If you would invest 4,094 in Criteo Sa on August 28, 2024 and sell it today you would lose (92.00) from holding Criteo Sa or give up 2.25% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 4.76% |
| Values | Daily Returns |
Criteo Sa vs. Tremor Video
Performance |
| Timeline |
| Criteo Sa |
| Tremor Video |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Criteo Sa and Tremor Video Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Criteo Sa and Tremor Video
The main advantage of trading using opposite Criteo Sa and Tremor Video positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Criteo Sa position performs unexpectedly, Tremor Video 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 Tremor Video will offset losses from the drop in Tremor Video's long position.| Criteo Sa vs. Deluxe | Criteo Sa vs. Emerald Expositions Events | Criteo Sa vs. Marchex | Criteo Sa vs. Integral Ad Science |
| Tremor Video vs. Boston Omaha Corp | Tremor Video vs. Integral Ad Science | Tremor Video vs. Cardlytics | Tremor Video vs. Cimpress NV |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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