This module allows you to analyze existing cross correlation between DOW and Edwards Lifesciences Corporation. You can compare the effects of market volatilities on DOW and Edwards Lifesciences 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 Edwards Lifesciences. See also your portfolio center
. Please also check ongoing floating volatility patterns of DOW
and Edwards Lifesciences
DOW vs. Edwards Lifesciences Corp.
Given the investment horizon of 30 days, DOW is expected to generate 0.51 times more return on investment than Edwards Lifesciences. However, DOW is 1.97 times less risky than Edwards Lifesciences. It trades about 0.05 of its potential returns per unit of risk. Edwards Lifesciences Corporation is currently generating about -0.08 per unit of risk. If you would invest 2,498,747 in DOW on June 18, 2018 and sell it today you would earn a total of 19,878 from holding DOW or generate 0.8% return on investment over 30 days.
Pair Corralation between DOW and Edwards Lifesciences
|Time Period||1 Month [change]|
Overlapping area represents the amount of risk that can be diversified away by holding DOW and Edwards Lifesciences Corp. in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Edwards Lifesciences 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 Edwards Lifesciences. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Edwards Lifesciences has no effect on the direction of DOW i.e. DOW and Edwards Lifesciences go up and down completely randomly.
|IT, Search Cloud And Integrated IT Services|
|Business Address||1600 Amphitheatre Parkway|
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