Correlation Between DoubleVerify Holdings and CXApp
Can any of the company-specific risk be diversified away by investing in both DoubleVerify Holdings and CXApp 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 DoubleVerify Holdings and CXApp into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between DoubleVerify Holdings and CXApp Inc, you can compare the effects of market volatilities on DoubleVerify Holdings and CXApp 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 DoubleVerify Holdings with a short position of CXApp. Check out your portfolio center. Please also check ongoing floating volatility patterns of DoubleVerify Holdings and CXApp.
Diversification Opportunities for DoubleVerify Holdings and CXApp
-0.38 | Correlation Coefficient |
Very good diversification
The 3 months correlation between DoubleVerify and CXApp is -0.38. Overlapping area represents the amount of risk that can be diversified away by holding DoubleVerify Holdings and CXApp Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CXApp Inc and DoubleVerify Holdings 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 DoubleVerify Holdings are associated (or correlated) with CXApp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CXApp Inc has no effect on the direction of DoubleVerify Holdings i.e., DoubleVerify Holdings and CXApp go up and down completely randomly.
Pair Corralation between DoubleVerify Holdings and CXApp
Allowing for the 90-day total investment horizon DoubleVerify Holdings is expected to generate 0.41 times more return on investment than CXApp. However, DoubleVerify Holdings is 2.41 times less risky than CXApp. It trades about 0.12 of its potential returns per unit of risk. CXApp Inc is currently generating about 0.0 per unit of risk. If you would invest 1,336 in DoubleVerify Holdings on April 26, 2025 and sell it today you would earn a total of 221.00 from holding DoubleVerify Holdings or generate 16.54% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
DoubleVerify Holdings vs. CXApp Inc
Performance |
| Timeline |
| DoubleVerify Holdings |
| CXApp Inc |
DoubleVerify Holdings and CXApp Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with DoubleVerify Holdings and CXApp
The main advantage of trading using opposite DoubleVerify Holdings and CXApp positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if DoubleVerify Holdings position performs unexpectedly, CXApp 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 CXApp will offset losses from the drop in CXApp's long position.| DoubleVerify Holdings vs. Braze Inc | DoubleVerify Holdings vs. Bentley Systems | DoubleVerify Holdings vs. Calix Inc | DoubleVerify Holdings vs. Dynatrace Holdings LLC |
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 Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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