Correlation Analysis Between DOW and DHX Media

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

DOW  vs.  DHX Media Ltd

 Performance (%) 

Pair Volatility

Given the investment horizon of 30 days, DOW is expected to generate 0.04 times more return on investment than DHX Media. However, DOW is 26.31 times less risky than DHX Media. It trades about 0.38 of its potential returns per unit of risk. DHX Media Ltd is currently generating about -0.18 per unit of risk. If you would invest  2,573,360  in DOW on August 22, 2018 and sell it today you would earn a total of  92,338  from holding DOW or generate 3.59% return on investment over 30 days.

Pair Corralation between DOW and DHX Media

Time Period1 Month [change]
ValuesDaily Returns


Excellent diversification

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

Comparative Volatility

 Predicted Return Density 

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See also your portfolio center. Please also try Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.