Correlation Between Publicis Groupe and Mobiquity Technologies
Can any of the company-specific risk be diversified away by investing in both Publicis Groupe and Mobiquity Technologies 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 Publicis Groupe and Mobiquity Technologies into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Publicis Groupe SA and Mobiquity Technologies, you can compare the effects of market volatilities on Publicis Groupe and Mobiquity Technologies 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 Publicis Groupe with a short position of Mobiquity Technologies. Check out your portfolio center. Please also check ongoing floating volatility patterns of Publicis Groupe and Mobiquity Technologies.
Diversification Opportunities for Publicis Groupe and Mobiquity Technologies
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Publicis and Mobiquity is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Publicis Groupe SA and Mobiquity Technologies in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mobiquity Technologies and Publicis Groupe 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 Publicis Groupe SA are associated (or correlated) with Mobiquity Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mobiquity Technologies has no effect on the direction of Publicis Groupe i.e., Publicis Groupe and Mobiquity Technologies go up and down completely randomly.
Pair Corralation between Publicis Groupe and Mobiquity Technologies
If you would invest (100.00) in Mobiquity Technologies on November 9, 2024 and sell it today you would earn a total of 100.00 from holding Mobiquity Technologies or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Publicis Groupe SA vs. Mobiquity Technologies
Performance |
| Timeline |
| Publicis Groupe SA |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
| Mobiquity Technologies |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Publicis Groupe and Mobiquity Technologies Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Publicis Groupe and Mobiquity Technologies
The main advantage of trading using opposite Publicis Groupe and Mobiquity Technologies positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Publicis Groupe position performs unexpectedly, Mobiquity Technologies 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 Mobiquity Technologies will offset losses from the drop in Mobiquity Technologies' long position.| Publicis Groupe vs. SwissCom AG | Publicis Groupe vs. Compagnie de Saint Gobain | Publicis Groupe vs. Vinci SA ADR | Publicis Groupe vs. Compagnie Generale des |
| Mobiquity Technologies vs. National CineMedia | Mobiquity Technologies vs. Baosheng Media Group | Mobiquity Technologies vs. MGO Global Common | Mobiquity Technologies vs. ZW Data Action |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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