Correlation Between Amazon and Outfront
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By analyzing existing cross correlation between Amazon Inc and Outfront Media Capital, you can compare the effects of market volatilities on Amazon and Outfront 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 Amazon with a short position of Outfront. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amazon and Outfront.
Diversification Opportunities for Amazon and Outfront
Weak diversification
The 3 months correlation between Amazon and Outfront is 0.32. Overlapping area represents the amount of risk that can be diversified away by holding Amazon Inc and Outfront Media Capital in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Outfront Media Capital and Amazon 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 Amazon Inc are associated (or correlated) with Outfront. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Outfront Media Capital has no effect on the direction of Amazon i.e., Amazon and Outfront go up and down completely randomly.
Pair Corralation between Amazon and Outfront
Given the investment horizon of 90 days Amazon Inc is expected to generate 1.07 times more return on investment than Outfront. However, Amazon is 1.07 times more volatile than Outfront Media Capital. It trades about 0.02 of its potential returns per unit of risk. Outfront Media Capital is currently generating about -0.12 per unit of risk. If you would invest 22,226 in Amazon Inc on July 10, 2025 and sell it today you would earn a total of 296.00 from holding Amazon Inc or generate 1.33% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 95.31% |
| Values | Daily Returns |
Amazon Inc vs. Outfront Media Capital
Performance |
| Timeline |
| Amazon Inc |
| Outfront Media Capital |
Amazon and Outfront Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Amazon and Outfront
The main advantage of trading using opposite Amazon and Outfront positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amazon position performs unexpectedly, Outfront 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 Outfront will offset losses from the drop in Outfront's long position.The idea behind Amazon Inc and Outfront Media Capital pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.| Outfront vs. Ecoloclean Industrs | Outfront vs. Education Management Corp | Outfront vs. Adtalem Global Education | Outfront vs. Raffles Education |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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