Correlation Between E W and CuriosityStream

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

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

Diversification Opportunities for E W and CuriosityStream

-0.58

Correlation Coefficient

E W  CuriosityStream

Excellent diversification

The 3 months correlation between SSP and CuriosityStream is -0.58. Overlapping area represents the amount of risk that can be diversified away by holding E W Scripps and CuriosityStream in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CuriosityStream and E W 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 E W Scripps are associated (or correlated) with CuriosityStream. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CuriosityStream has no effect on the direction of E W i.e., E W and CuriosityStream go up and down completely randomly.

Pair Corralation between E W and CuriosityStream

Considering the 90-day investment horizon E W Scripps is expected to generate 0.41 times more return on investment than CuriosityStream. However, E W Scripps is 2.46 times less risky than CuriosityStream. It trades about 0.1 of its potential returns per unit of risk. CuriosityStream is currently generating about -0.1 per unit of risk. If you would invest  235.00  in E W Scripps on May 15, 2025 and sell it today you would earn a total of  72.00  from holding E W Scripps or generate 30.64% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Very Weak
Accuracy	91.94%
Values	Daily Returns

E W Scripps  vs.  CuriosityStream

E W Scripps

Risk-Adjusted Performance

Fair

Compared to the overall equity markets, risk-adjusted returns on investments in E W Scripps are ranked lower than 7 (%) of all global equities and portfolios over the last 90 days. Even with relatively inconsistent basic indicators, E W reported solid returns over the last few months and may actually be approaching a breakup point.

CuriosityStream

Risk-Adjusted Performance

Weakest

Over the last 90 days CuriosityStream has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Stock's forward indicators remain fairly stable which may send shares a bit higher in September 2025. The latest fuss may also be a sign of long-term up-swing for the venture sophisticated investors.

Pair Trading with E W and CuriosityStream

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

The idea behind E W Scripps and CuriosityStream 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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.