Correlation Between Comscore and Smart Digital

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

By analyzing existing cross correlation between Comscore and Smart Digital Group, you can compare the effects of market volatilities on Comscore and Smart Digital 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 Comscore with a short position of Smart Digital. Check out your portfolio center. Please also check ongoing floating volatility patterns of Comscore and Smart Digital.

Diversification Opportunities for Comscore and Smart Digital

-0.46

Correlation Coefficient

Comscore  Smart Digital

Very good diversification

The 3 months correlation between Comscore and Smart is -0.46. Overlapping area represents the amount of risk that can be diversified away by holding Comscore and Smart Digital Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Smart Digital Group and Comscore 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 Comscore are associated (or correlated) with Smart Digital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Smart Digital Group has no effect on the direction of Comscore i.e., Comscore and Smart Digital go up and down completely randomly.

Pair Corralation between Comscore and Smart Digital

Given the investment horizon of 90 days Comscore is expected to generate 0.62 times more return on investment than Smart Digital. However, Comscore is 1.61 times less risky than Smart Digital. It trades about 0.02 of its potential returns per unit of risk. Smart Digital Group is currently generating about -0.1 per unit of risk. If you would invest  667.00  in Comscore on September 15, 2025 and sell it today you would lose (11.00) from holding Comscore or give up 1.65% of portfolio value over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Very Weak
Accuracy	98.44%
Values	Daily Returns

Comscore  vs.  Smart Digital Group

Comscore

Risk-Adjusted Performance

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in Comscore are ranked lower than 1 (%) of all global equities and portfolios over the last 90 days. Even with relatively inconsistent basic indicators, Comscore may actually be approaching a critical reversion point that can send shares even higher in January 2026.

Smart Digital Group

Risk-Adjusted Performance

Weakest

Over the last 90 days Smart Digital Group has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of abnormal performance in the last few months, the Stock's fundamental indicators remain very healthy which may send shares a bit higher in January 2026. The recent disarray may also be a sign of long period up-swing for the firm investors.

Pair Trading with Comscore and Smart Digital

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

The idea behind Comscore and Smart Digital Group 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 Money Managers module to screen money managers from public funds and ETFs managed around the world.