Codere Online Correlations

CDRO Stock  USD 8.04  0.09  1.11%   
The current 90-days correlation between Codere Online Corp and PlayAGS is -0.15 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Codere Online moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Codere Online Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Codere Online Correlation With Market

Weak diversification

The correlation between Codere Online Corp and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Codere Online Corp and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Codere Online Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Codere Stock

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Moving against Codere Stock

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Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
GAMBACEL
EVRIACEL
LNWAGS
INSEAGS
IGTINSE
EVRIGAMB
  
High negative correlations   
AGSACEL
LNWCPHC
GAMBAGS
EVRIAGS
INSECPHC
INSEGAMB

Risk-Adjusted Indicators

There is a big difference between Codere Stock performing well and Codere Online Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Codere Online's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

Codere Online Corporate Management

Matan ShemeshChief StrategyProfile
Yaiza RodriguezGeneral BoardProfile
Moshe EdreeExecutive BoardProfile
Gonzalo OsmaChief OfficerProfile
Oscar IglesiasChief OfficerProfile
Alberto TeliasChief OfficerProfile