Correlation Analysis Between DOW and Dover Downs

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

DOW  vs.  Dover Downs Gaming Entertainme

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, DOW is expected to generate 0.11 times more return on investment than Dover Downs. However, DOW is 8.9 times less risky than Dover Downs. It trades about 0.05 of its potential returns per unit of risk. Dover Downs Gaming Entertainment is currently generating about -0.02 per unit of risk. If you would invest  2,471,509  in DOW on May 19, 2018 and sell it today you would earn a total of  23,474  from holding DOW or generate 0.95% return on investment over 30 days.

Pair Corralation between DOW and Dover Downs

0.0
Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy64.52%
ValuesDaily Returns

Diversification

Pay attention

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

 Predicted Return Density 
      Returns 

My Equities

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1173.46

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