Pair Correlation Between DOW and VOXX International

This module allows you to analyze existing cross correlation between DOW and VOXX International Corporation. You can compare the effects of market volatilities on DOW and VOXX International 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 VOXX International. See also your portfolio center. Please also check ongoing floating volatility patterns of DOW and VOXX International.
Investment Horizon     30 Days    Login   to change
Symbolsvs
 DOW  vs   VOXX International Corp.
 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, DOW is expected to generate 0.05 times more return on investment than VOXX International. However, DOW is 22.17 times less risky than VOXX International. It trades about 0.57 of its potential returns per unit of risk. VOXX International Corporation is currently generating about -0.1 per unit of risk. If you would invest  2,233,135  in DOW on September 18, 2017 and sell it today you would earn a total of  66,609  from holding DOW or generate 2.98% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between DOW and VOXX International
-0.54

Parameters

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

Diversification

Excellent diversification

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

 Predicted Return Density 
      Returns