Correlation Between ATN International and Criteo Sa
Can any of the company-specific risk be diversified away by investing in both ATN International 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 ATN International and Criteo Sa into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between ATN International and Criteo Sa, you can compare the effects of market volatilities on ATN International 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 ATN International with a short position of Criteo Sa. Check out your portfolio center. Please also check ongoing floating volatility patterns of ATN International and Criteo Sa.
Diversification Opportunities for ATN International and Criteo Sa
-0.04 | Correlation Coefficient |
Good diversification
The 3 months correlation between ATN and Criteo is -0.04. Overlapping area represents the amount of risk that can be diversified away by holding ATN International and Criteo Sa in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Criteo Sa and ATN International 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 ATN International 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 ATN International i.e., ATN International and Criteo Sa go up and down completely randomly.
Pair Corralation between ATN International and Criteo Sa
Given the investment horizon of 90 days ATN International is expected to generate 1.46 times more return on investment than Criteo Sa. However, ATN International is 1.46 times more volatile than Criteo Sa. It trades about 0.0 of its potential returns per unit of risk. Criteo Sa is currently generating about -0.09 per unit of risk. If you would invest 1,599 in ATN International on June 12, 2025 and sell it today you would lose (56.00) from holding ATN International or give up 3.5% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
ATN International vs. Criteo Sa
Performance |
| Timeline |
| ATN International |
| Criteo Sa |
ATN International and Criteo Sa Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ATN International and Criteo Sa
The main advantage of trading using opposite ATN International and Criteo Sa positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ATN International 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.| ATN International vs. Shenandoah Telecommunications Co | ATN International vs. Anterix | ATN International vs. Liberty Broadband Corp | ATN International vs. Ooma Inc |
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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
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