Correlation Between ZW Data and TNL Mediagene
Can any of the company-specific risk be diversified away by investing in both ZW Data and TNL Mediagene 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 ZW Data and TNL Mediagene into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between ZW Data Action and TNL Mediagene Ordinary, you can compare the effects of market volatilities on ZW Data and TNL Mediagene 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 ZW Data with a short position of TNL Mediagene. Check out your portfolio center. Please also check ongoing floating volatility patterns of ZW Data and TNL Mediagene.
Diversification Opportunities for ZW Data and TNL Mediagene
-0.59 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between CNET and TNL is -0.59. Overlapping area represents the amount of risk that can be diversified away by holding ZW Data Action and TNL Mediagene Ordinary in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on TNL Mediagene Ordinary and ZW Data 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 ZW Data Action are associated (or correlated) with TNL Mediagene. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of TNL Mediagene Ordinary has no effect on the direction of ZW Data i.e., ZW Data and TNL Mediagene go up and down completely randomly.
Pair Corralation between ZW Data and TNL Mediagene
Given the investment horizon of 90 days ZW Data Action is expected to generate 0.98 times more return on investment than TNL Mediagene. However, ZW Data Action is 1.02 times less risky than TNL Mediagene. It trades about -0.14 of its potential returns per unit of risk. TNL Mediagene Ordinary is currently generating about -0.21 per unit of risk. If you would invest 224.00 in ZW Data Action on August 14, 2025 and sell it today you would lose (38.00) from holding ZW Data Action or give up 16.96% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
ZW Data Action vs. TNL Mediagene Ordinary
Performance |
| Timeline |
| ZW Data Action |
| TNL Mediagene Ordinary |
ZW Data and TNL Mediagene Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ZW Data and TNL Mediagene
The main advantage of trading using opposite ZW Data and TNL Mediagene positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ZW Data position performs unexpectedly, TNL Mediagene 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 TNL Mediagene will offset losses from the drop in TNL Mediagene's long position.| ZW Data vs. Baosheng Media Group | ZW Data vs. Cheetah Mobile | ZW Data vs. Kuke Music Holding | ZW Data vs. Onfolio Holdings |
| TNL Mediagene vs. Direct Digital Holdings | TNL Mediagene vs. FAST TRACK GROUP | TNL Mediagene vs. Zeta Network Group | TNL Mediagene vs. Lendway |
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 CEOs Directory module to screen CEOs from public companies around the world.
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