Correlation Between Cyren and Global Blue
Can any of the company-specific risk be diversified away by investing in both Cyren and Global Blue 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 Cyren and Global Blue into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Cyren and Global Blue Group, you can compare the effects of market volatilities on Cyren and Global Blue 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 Cyren with a short position of Global Blue. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cyren and Global Blue.
Diversification Opportunities for Cyren and Global Blue
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Cyren and Global is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Cyren and Global Blue Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Global Blue Group and Cyren 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 Cyren are associated (or correlated) with Global Blue. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Global Blue Group has no effect on the direction of Cyren i.e., Cyren and Global Blue go up and down completely randomly.
Pair Corralation between Cyren and Global Blue
If you would invest 665.00 in Global Blue Group on October 25, 2024 and sell it today you would earn a total of 85.00 from holding Global Blue Group or generate 12.78% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Cyren vs. Global Blue Group
Performance |
| Timeline |
| Cyren |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Global Blue Group |
Cyren and Global Blue Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cyren and Global Blue
The main advantage of trading using opposite Cyren and Global Blue positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cyren position performs unexpectedly, Global Blue 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 Global Blue will offset losses from the drop in Global Blue's long position.| Cyren vs. PennantPark Floating Rate | Cyren vs. Senmiao Technology | Cyren vs. Radcom | Cyren vs. National CineMedia |
| Global Blue vs. Evertec | Global Blue vs. Consensus Cloud Solutions | Global Blue vs. CSG Systems International | Global Blue vs. EverCommerce |
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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
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