Correlation Between TradeDoubler and Episurf Medical
Can any of the company-specific risk be diversified away by investing in both TradeDoubler and Episurf Medical 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 TradeDoubler and Episurf Medical into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between TradeDoubler AB and Episurf Medical AB, you can compare the effects of market volatilities on TradeDoubler and Episurf Medical 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 TradeDoubler with a short position of Episurf Medical. Check out your portfolio center. Please also check ongoing floating volatility patterns of TradeDoubler and Episurf Medical.
Diversification Opportunities for TradeDoubler and Episurf Medical
0.7 | Correlation Coefficient |
Poor diversification
The 3 months correlation between TradeDoubler and Episurf is 0.7. Overlapping area represents the amount of risk that can be diversified away by holding TradeDoubler AB and Episurf Medical AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Episurf Medical AB and TradeDoubler 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 TradeDoubler AB are associated (or correlated) with Episurf Medical. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Episurf Medical AB has no effect on the direction of TradeDoubler i.e., TradeDoubler and Episurf Medical go up and down completely randomly.
Pair Corralation between TradeDoubler and Episurf Medical
Assuming the 90 days trading horizon TradeDoubler AB is expected to generate 0.68 times more return on investment than Episurf Medical. However, TradeDoubler AB is 1.47 times less risky than Episurf Medical. It trades about -0.1 of its potential returns per unit of risk. Episurf Medical AB is currently generating about -0.09 per unit of risk. If you would invest 794.00 in TradeDoubler AB on September 7, 2025 and sell it today you would lose (154.00) from holding TradeDoubler AB or give up 19.4% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
TradeDoubler AB vs. Episurf Medical AB
Performance |
| Timeline |
| TradeDoubler AB |
| Episurf Medical AB |
TradeDoubler and Episurf Medical Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with TradeDoubler and Episurf Medical
The main advantage of trading using opposite TradeDoubler and Episurf Medical positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if TradeDoubler position performs unexpectedly, Episurf Medical 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 Episurf Medical will offset losses from the drop in Episurf Medical's long position.| TradeDoubler vs. Gentoo Media | TradeDoubler vs. Indutrade AB | TradeDoubler vs. Investment AB Oresund | TradeDoubler vs. USWE Sports AB |
| Episurf Medical vs. Xvivo Perfusion AB | Episurf Medical vs. BICO Group AB | Episurf Medical vs. Bactiguard Holding AB | Episurf Medical vs. ADDvise Group B |
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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