Correlation Analysis Between DOW and Cinemark Holdings

This module allows you to analyze existing cross correlation between DOW and Cinemark Holdings. You can compare the effects of market volatilities on DOW and Cinemark Holdings 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 DOW with a short position of Cinemark Holdings. See also your portfolio center. Please also check ongoing floating volatility patterns of DOW and Cinemark Holdings.
Horizon     30 Days    Login   to change
Symbolsvs

DOW  vs.  Cinemark Holdings Inc

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, DOW is expected to generate 1.56 times less return on investment than Cinemark Holdings. But when comparing it to its historical volatility, DOW is 2.53 times less risky than Cinemark Holdings. It trades about 0.23 of its potential returns per unit of risk. Cinemark Holdings is currently generating about 0.14 of returns per unit of risk over similar time horizon. If you would invest  3,727  in Cinemark Holdings on August 20, 2018 and sell it today you would earn a total of  108.00  from holding Cinemark Holdings or generate 2.9% return on investment over 30 days.

Pair Corralation between DOW and Cinemark Holdings

0.33
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Weak diversification

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

 Predicted Return Density 
      Returns 

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1161.22

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