Correlation Between Cellnex Telecom and ZW Data
This view reflects how Cellnex Telecom SA and ZW Data Action behave when observed together. This structure relates return linkage to diversifiable risk. It captures historical interaction using available market data. All figures are based on reported data and are informational in nature.
Correlation analysis of Cellnex Telecom SA and ZW Data Action can improve hedge quality and reduce accidental factor exposure. The comparison frames co-movement across different time windows and market conditions. You can explore a long Cellnex Telecom versus short ZW Data position to frame pair dynamics. You can review volatility context in Cellnex Telecom and ZW Data. Go to your portfolio center
Diversification Opportunities for Cellnex Telecom and ZW Data
-0.57 | Correlation Coefficient |
Very strong inverse diversification
The 3 months correlation between Cellnex and CNET is -0.57. Overlapping area represents the amount of risk that can be diversified away by holding Cellnex Telecom SA and ZW Data Action in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ZW Data Action and Cellnex Telecom 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 Cellnex Telecom SA are associated (or correlated) with ZW Data. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ZW Data Action has no effect on the direction of Cellnex Telecom i.e., Cellnex Telecom and ZW Data go up and down completely randomly.
Pair Correlation Between Cellnex Telecom and ZW Data
Assuming a 90-day horizon Cellnex Telecom SA is expected to generate 0.25 times more return on investment than ZW Data. However, Cellnex Telecom SA is 4.01 times less risky than ZW Data. It trades about -0.03 of its potential returns per unit of risk. ZW Data Action is currently generating about -0.05 per unit of risk. If you had invested $ 1,591 in Cellnex Telecom SA on December 27, 2025 and sold it today you would have lost $ 93.00 from holding Cellnex Telecom SA or given up 5.85% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cellnex Telecom SA vs. ZW Data Action
Performance |
| Timeline |
| Cellnex Telecom SA |
Risk-Adjusted Performance
Weak
Weak | Strong |
| ZW Data Action |
Risk-Adjusted Performance
Weak
Weak | Strong |
Cellnex Telecom and ZW Data Volatility Contrast
Predicted Return Distribution |
| Density |
Pair Trading with Cellnex Telecom and ZW Data
Combining Cellnex Telecom with ZW Data in a pair setup can help isolate spread behavior from broader market movement. The stronger process checks whether the correlation is stable enough to justify the hedge logic before the trade is sized.| Cellnex Telecom vs. Orange SA | Cellnex Telecom vs. Swisscom AG | Cellnex Telecom vs. SwissCom AG | Cellnex Telecom vs. Telstra Limited |
| ZW Data vs. Baosheng Media Group | ZW Data vs. Cheetah Mobile | ZW Data vs. Onfolio Holdings | ZW Data vs. Star Fashion Culture |
Go to your portfolio centerThe information on this page should be treated as a complementary input when building or adjusting a diversified portfolio. The stronger workflow is to validate these signals with other models before acting. You can also try the Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
Other Complementary Tools
| Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings | |
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum | |
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon |