Correlation Between Catena Media and Sdiptech
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By analyzing existing cross correlation between Catena Media plc and Sdiptech AB, you can compare the effects of market volatilities on Catena Media and Sdiptech 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 Catena Media with a short position of Sdiptech. Check out your portfolio center. Please also check ongoing floating volatility patterns of Catena Media and Sdiptech.
Diversification Opportunities for Catena Media and Sdiptech
-0.23 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Catena and Sdiptech is -0.23. Overlapping area represents the amount of risk that can be diversified away by holding Catena Media plc and Sdiptech AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sdiptech AB and Catena Media 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 Catena Media plc are associated (or correlated) with Sdiptech. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sdiptech AB has no effect on the direction of Catena Media i.e., Catena Media and Sdiptech go up and down completely randomly.
Pair Corralation between Catena Media and Sdiptech
Assuming the 90 days trading horizon Catena Media plc is expected to under-perform the Sdiptech. In addition to that, Catena Media is 1.33 times more volatile than Sdiptech AB. It trades about -0.1 of its total potential returns per unit of risk. Sdiptech AB is currently generating about 0.19 per unit of volatility. If you would invest 10,670 in Sdiptech AB on April 24, 2025 and sell it today you would earn a total of 2,830 from holding Sdiptech AB or generate 26.52% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
Catena Media plc vs. Sdiptech AB
Performance |
Timeline |
Catena Media plc |
Sdiptech AB |
Catena Media and Sdiptech Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Catena Media and Sdiptech
The main advantage of trading using opposite Catena Media and Sdiptech positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Catena Media position performs unexpectedly, Sdiptech 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 Sdiptech will offset losses from the drop in Sdiptech's long position.Catena Media vs. Genius Sports | Catena Media vs. Groupon | Catena Media vs. Prosus NV | Catena Media vs. Betsson AB |
Sdiptech vs. Sdiptech AB | Sdiptech vs. AB Sagax | Sdiptech vs. Corem Property Group | Sdiptech vs. Volati AB |
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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
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