Correlation Between Tremor Video and Criteo Sa
Can any of the company-specific risk be diversified away by investing in both Tremor Video 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 Tremor Video and Criteo Sa into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Tremor Video and Criteo Sa, you can compare the effects of market volatilities on Tremor Video 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 Tremor Video with a short position of Criteo Sa. Check out your portfolio center. Please also check ongoing floating volatility patterns of Tremor Video and Criteo Sa.
Diversification Opportunities for Tremor Video and Criteo Sa
-0.74 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Tremor and Criteo is -0.74. Overlapping area represents the amount of risk that can be diversified away by holding Tremor Video and Criteo Sa in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Criteo Sa and Tremor Video 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 Tremor Video 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 Tremor Video i.e., Tremor Video and Criteo Sa go up and down completely randomly.
Pair Corralation between Tremor Video and Criteo Sa
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 |
Tremor Video vs. Criteo Sa
Performance |
| Timeline |
| Tremor Video |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Criteo Sa |
Tremor Video and Criteo Sa Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Tremor Video and Criteo Sa
The main advantage of trading using opposite Tremor Video and Criteo Sa positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Tremor Video 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.| Tremor Video vs. Boston Omaha Corp | Tremor Video vs. Integral Ad Science | Tremor Video vs. Cardlytics | Tremor Video vs. Cimpress NV |
| 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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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