Correlation Between Advent Technologies and CuriosityStream
Can any of the company-specific risk be diversified away by investing in both Advent Technologies and CuriosityStream 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 Advent Technologies and CuriosityStream into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Advent Technologies Holdings and CuriosityStream, you can compare the effects of market volatilities on Advent Technologies and CuriosityStream 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 Advent Technologies with a short position of CuriosityStream. Check out your portfolio center. Please also check ongoing floating volatility patterns of Advent Technologies and CuriosityStream.
Diversification Opportunities for Advent Technologies and CuriosityStream
0.58 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Advent and CuriosityStream is 0.58. Overlapping area represents the amount of risk that can be diversified away by holding Advent Technologies Holdings and CuriosityStream in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CuriosityStream and Advent Technologies 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 Advent Technologies Holdings are associated (or correlated) with CuriosityStream. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CuriosityStream has no effect on the direction of Advent Technologies i.e., Advent Technologies and CuriosityStream go up and down completely randomly.
Pair Corralation between Advent Technologies and CuriosityStream
Considering the 90-day investment horizon Advent Technologies Holdings is expected to under-perform the CuriosityStream. But the stock apears to be less risky and, when comparing its historical volatility, Advent Technologies Holdings is 11.71 times less risky than CuriosityStream. The stock trades about -0.01 of its potential returns per unit of risk. The CuriosityStream is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest 1.20 in CuriosityStream on August 31, 2025 and sell it today you would earn a total of 0.05 from holding CuriosityStream or generate 4.17% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 83.6% |
| Values | Daily Returns |
Advent Technologies Holdings vs. CuriosityStream
Performance |
| Timeline |
| Advent Technologies |
| CuriosityStream |
Risk-Adjusted Performance
Fair
Weak | Strong |
Advent Technologies and CuriosityStream Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Advent Technologies and CuriosityStream
The main advantage of trading using opposite Advent Technologies and CuriosityStream positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Advent Technologies position performs unexpectedly, CuriosityStream 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 CuriosityStream will offset losses from the drop in CuriosityStream's long position.| Advent Technologies vs. Igene Biotechnology | Advent Technologies vs. Sekisui Chemical Co | Advent Technologies vs. Geely Automobile Holdings | Advent Technologies vs. Silicon Motion Technology |
| CuriosityStream vs. China Clean Energy | CuriosityStream vs. Cleanaway Waste Management | CuriosityStream vs. Marimaca Copper Corp | CuriosityStream vs. Tencent Music Entertainment |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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