Correlation Between TNL Mediagene and Criteo Sa
Can any of the company-specific risk be diversified away by investing in both TNL Mediagene and Criteo Sa 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 TNL Mediagene and Criteo Sa into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between TNL Mediagene Ordinary and Criteo Sa, you can compare the effects of market volatilities on TNL Mediagene and Criteo Sa 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 TNL Mediagene with a short position of Criteo Sa. Check out your portfolio center. Please also check ongoing floating volatility patterns of TNL Mediagene and Criteo Sa.
Diversification Opportunities for TNL Mediagene and Criteo Sa
0.53 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between TNL and Criteo is 0.53. Overlapping area represents the amount of risk that can be diversified away by holding TNL Mediagene Ordinary and Criteo Sa in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Criteo Sa and TNL Mediagene 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 TNL Mediagene Ordinary are associated (or correlated) with Criteo Sa. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Criteo Sa has no effect on the direction of TNL Mediagene i.e., TNL Mediagene and Criteo Sa go up and down completely randomly.
Pair Corralation between TNL Mediagene and Criteo Sa
Given the investment horizon of 90 days TNL Mediagene Ordinary is expected to under-perform the Criteo Sa. In addition to that, TNL Mediagene is 3.31 times more volatile than Criteo Sa. It trades about -0.05 of its total potential returns per unit of risk. Criteo Sa is currently generating about -0.06 per unit of volatility. If you would invest 2,689 in Criteo Sa on June 4, 2025 and sell it today you would lose (206.00) from holding Criteo Sa or give up 7.66% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
TNL Mediagene Ordinary vs. Criteo Sa
Performance |
| Timeline |
| TNL Mediagene Ordinary |
| Criteo Sa |
TNL Mediagene and Criteo Sa Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with TNL Mediagene and Criteo Sa
The main advantage of trading using opposite TNL Mediagene and Criteo Sa positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if TNL Mediagene position performs unexpectedly, Criteo Sa 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 Criteo Sa will offset losses from the drop in Criteo Sa's long position.| TNL Mediagene vs. Western Asset Investment | TNL Mediagene vs. Canaf Investments | TNL Mediagene vs. Stratasys | TNL Mediagene vs. Radcom |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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