Correlation Analysis Between AMC Entertainment and DHX Media

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

AMC Entertainment Holdings Inc  vs.  DHX Media Ltd

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, AMC Entertainment Holdings is expected to generate 0.72 times more return on investment than DHX Media. However, AMC Entertainment Holdings is 1.38 times less risky than DHX Media. It trades about 0.11 of its potential returns per unit of risk. DHX Media Ltd is currently generating about -0.21 per unit of risk. If you would invest  1,600  in AMC Entertainment Holdings on June 18, 2018 and sell it today you would earn a total of  85.00  from holding AMC Entertainment Holdings or generate 5.31% return on investment over 30 days.

Pair Corralation between AMC Entertainment and DHX Media

-0.45
Time Period1 Month [change]
DirectionNegative 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very good diversification

Overlapping area represents the amount of risk that can be diversified away by holding AMC Entertainment Holdings Inc 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 AMC Entertainment 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 AMC Entertainment Holdings 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 AMC Entertainment i.e. AMC Entertainment and DHX Media go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
AMC Entertainment Ho  
7 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in AMC Entertainment Holdings are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.
DHX Media Ltd  
0 

Risk-Adjusted Performance

Over the last 30 days DHX Media Ltd has generated negative risk-adjusted returns adding no value to investors with long positions.

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1197.29

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