Pair Correlation Between DOW and Curtiss Wright

This module allows you to analyze existing cross correlation between DOW and Curtiss Wright Corporation. You can compare the effects of market volatilities on DOW and Curtiss Wright 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 Curtiss Wright. See also your portfolio center. Please also check ongoing floating volatility patterns of DOW and Curtiss Wright.
 Time Horizon     30 Days    Login   to change
Symbolsvs

DOW  vs.  Curtiss Wright Corp.

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, DOW is expected to under-perform the Curtiss Wright. But the index apears to be less risky and, when comparing its historical volatility, DOW is 1.24 times less risky than Curtiss Wright. The index trades about -0.07 of its potential returns per unit of risk. The Curtiss Wright Corporation is currently generating about -0.02 of returns per unit of risk over similar time horizon. If you would invest  13,775  in Curtiss Wright Corporation on March 26, 2018 and sell it today you would lose (266.00)  from holding Curtiss Wright Corporation or give up 1.93% of portfolio value over 30 days.

Pair Corralation between DOW and Curtiss Wright

-0.6
Time Period2 Months [change]
DirectionNegative 
StrengthWeak
Accuracy84.0%
ValuesDaily Returns

Diversification

Excellent diversification

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

 Predicted Return Density 
      Returns 

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ExchangeNASDAQ
$1028.59

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