Correlation Between Criteo Sa and Nextnav Acquisition
Can any of the company-specific risk be diversified away by investing in both Criteo Sa and Nextnav Acquisition 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 Criteo Sa and Nextnav Acquisition into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Criteo Sa and Nextnav Acquisition Corp, you can compare the effects of market volatilities on Criteo Sa and Nextnav Acquisition 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 Criteo Sa with a short position of Nextnav Acquisition. Check out your portfolio center. Please also check ongoing floating volatility patterns of Criteo Sa and Nextnav Acquisition.
Diversification Opportunities for Criteo Sa and Nextnav Acquisition
0.46 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Criteo and Nextnav is 0.46. Overlapping area represents the amount of risk that can be diversified away by holding Criteo Sa and Nextnav Acquisition Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Nextnav Acquisition Corp and Criteo Sa 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 Criteo Sa are associated (or correlated) with Nextnav Acquisition. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Nextnav Acquisition Corp has no effect on the direction of Criteo Sa i.e., Criteo Sa and Nextnav Acquisition go up and down completely randomly.
Pair Corralation between Criteo Sa and Nextnav Acquisition
Given the investment horizon of 90 days Criteo Sa is expected to under-perform the Nextnav Acquisition. But the stock apears to be less risky and, when comparing its historical volatility, Criteo Sa is 1.53 times less risky than Nextnav Acquisition. The stock trades about -0.09 of its potential returns per unit of risk. The Nextnav Acquisition Corp is currently generating about -0.06 of returns per unit of risk over similar time horizon. If you would invest 1,528 in Nextnav Acquisition Corp on July 24, 2025 and sell it today you would lose (211.00) from holding Nextnav Acquisition Corp or give up 13.81% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Criteo Sa vs. Nextnav Acquisition Corp
Performance |
| Timeline |
| Criteo Sa |
| Nextnav Acquisition Corp |
Criteo Sa and Nextnav Acquisition Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Criteo Sa and Nextnav Acquisition
The main advantage of trading using opposite Criteo Sa and Nextnav Acquisition positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Criteo Sa position performs unexpectedly, Nextnav Acquisition 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 Nextnav Acquisition will offset losses from the drop in Nextnav Acquisition's long position.| Criteo Sa vs. MNTN, Inc | Criteo Sa vs. GCI Liberty, | Criteo Sa vs. Emerald Expositions Events | Criteo Sa vs. Deluxe |
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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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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