Correlation Between Doubledown Interactive and Marcus
Can any of the company-specific risk be diversified away by investing in both Doubledown Interactive and Marcus 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 Doubledown Interactive and Marcus into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Doubledown Interactive Co and Marcus, you can compare the effects of market volatilities on Doubledown Interactive and Marcus 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 Doubledown Interactive with a short position of Marcus. Check out your portfolio center. Please also check ongoing floating volatility patterns of Doubledown Interactive and Marcus.
Diversification Opportunities for Doubledown Interactive and Marcus
0.58 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Doubledown and Marcus is 0.58. Overlapping area represents the amount of risk that can be diversified away by holding Doubledown Interactive Co and Marcus in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Marcus and Doubledown Interactive 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 Doubledown Interactive Co are associated (or correlated) with Marcus. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Marcus has no effect on the direction of Doubledown Interactive i.e., Doubledown Interactive and Marcus go up and down completely randomly.
Pair Corralation between Doubledown Interactive and Marcus
Considering the 90-day investment horizon Doubledown Interactive Co is expected to under-perform the Marcus. But the stock apears to be less risky and, when comparing its historical volatility, Doubledown Interactive Co is 1.76 times less risky than Marcus. The stock trades about -0.01 of its potential returns per unit of risk. The Marcus is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest 1,503 in Marcus on August 16, 2025 and sell it today you would earn a total of 91.00 from holding Marcus or generate 6.05% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Doubledown Interactive Co vs. Marcus
Performance |
| Timeline |
| Doubledown Interactive |
| Marcus |
Doubledown Interactive and Marcus Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Doubledown Interactive and Marcus
The main advantage of trading using opposite Doubledown Interactive and Marcus positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Doubledown Interactive position performs unexpectedly, Marcus 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 Marcus will offset losses from the drop in Marcus' long position.| Doubledown Interactive vs. SohuCom | Doubledown Interactive vs. Gravity Co | Doubledown Interactive vs. GDEV Inc | Doubledown Interactive vs. Bgin Blockchain Limited |
| Marcus vs. Reservoir Media | Marcus vs. Alliance Entertainment Holding | Marcus vs. WideOpenWest | Marcus vs. AMC Networks |
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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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