Correlation Between Atlanta Braves and Cumulus Media

Can any of the company-specific risk be diversified away by investing in both Atlanta Braves and Cumulus Media 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 Atlanta Braves and Cumulus Media into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Atlanta Braves Holdings, and Cumulus Media Class, you can compare the effects of market volatilities on Atlanta Braves and Cumulus Media 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 Atlanta Braves with a short position of Cumulus Media. Check out your portfolio center. Please also check ongoing floating volatility patterns of Atlanta Braves and Cumulus Media.

Diversification Opportunities for Atlanta Braves and Cumulus Media

-0.79

Correlation Coefficient

Atlanta Braves  Cumulus Media

Pay attention - limited upside

The 3 months correlation between Atlanta and Cumulus is -0.79. Overlapping area represents the amount of risk that can be diversified away by holding Atlanta Braves Holdings, and Cumulus Media Class in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cumulus Media Class and Atlanta Braves 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 Atlanta Braves Holdings, are associated (or correlated) with Cumulus Media. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cumulus Media Class has no effect on the direction of Atlanta Braves i.e., Atlanta Braves and Cumulus Media go up and down completely randomly.

Pair Corralation between Atlanta Braves and Cumulus Media

If you would invest  3,994  in Atlanta Braves Holdings, on May 3, 2025 and sell it today you would earn a total of  462.00  from holding Atlanta Braves Holdings, or generate 11.57% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Weak
Accuracy	1.64%
Values	Daily Returns

Atlanta Braves Holdings,  vs.  Cumulus Media Class

Atlanta Braves Holdings,

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Atlanta Braves Holdings, are ranked lower than 12 (%) of all global equities and portfolios over the last 90 days. Despite quite conflicting basic indicators, Atlanta Braves may actually be approaching a critical reversion point that can send shares even higher in September 2025.

Cumulus Media Class

Risk-Adjusted Performance

Very Weak

Over the last 90 days Cumulus Media Class has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of comparatively stable essential indicators, Cumulus Media is not utilizing all of its potentials. The newest stock price uproar, may contribute to short-horizon losses for the private investors.

Pair Trading with Atlanta Braves and Cumulus Media

The main advantage of trading using opposite Atlanta Braves and Cumulus Media positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Atlanta Braves position performs unexpectedly, Cumulus Media 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 Cumulus Media will offset losses from the drop in Cumulus Media's long position.

The idea behind Atlanta Braves Holdings, and Cumulus Media Class pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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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 Anywhere module to track or share privately all of your investments from the convenience of any device.