Correlation Between AcuityAds Holdings and Criteo Sa
Can any of the company-specific risk be diversified away by investing in both AcuityAds Holdings and Criteo Sa 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 AcuityAds Holdings and Criteo Sa into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between AcuityAds Holdings and Criteo Sa, you can compare the effects of market volatilities on AcuityAds Holdings and Criteo Sa 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 AcuityAds Holdings with a short position of Criteo Sa. Check out your portfolio center. Please also check ongoing floating volatility patterns of AcuityAds Holdings and Criteo Sa.
Diversification Opportunities for AcuityAds Holdings and Criteo Sa
0.45 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between AcuityAds and Criteo is 0.45. Overlapping area represents the amount of risk that can be diversified away by holding AcuityAds Holdings and Criteo Sa in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Criteo Sa and AcuityAds Holdings 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 AcuityAds Holdings are associated (or correlated) with Criteo Sa. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Criteo Sa has no effect on the direction of AcuityAds Holdings i.e., AcuityAds Holdings and Criteo Sa go up and down completely randomly.
Pair Corralation between AcuityAds Holdings and Criteo Sa
If you would invest 178.00 in AcuityAds Holdings on November 3, 2024 and sell it today you would earn a total of 0.00 from holding AcuityAds Holdings or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 5.0% |
| Values | Daily Returns |
AcuityAds Holdings vs. Criteo Sa
Performance |
| Timeline |
| AcuityAds Holdings |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Criteo Sa |
AcuityAds Holdings and Criteo Sa Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AcuityAds Holdings and Criteo Sa
The main advantage of trading using opposite AcuityAds Holdings and Criteo Sa positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AcuityAds Holdings position performs unexpectedly, Criteo Sa 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 Criteo Sa will offset losses from the drop in Criteo Sa's long position.| AcuityAds Holdings vs. World Houseware Limited | AcuityAds Holdings vs. Skechers USA | AcuityAds Holdings vs. Qorvo Inc | AcuityAds Holdings vs. Edgewell Personal Care |
| Criteo Sa vs. Deluxe | Criteo Sa vs. Emerald Expositions Events | Criteo Sa vs. Marchex | Criteo Sa vs. Integral Ad Science |
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 AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.
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