Correlation Analysis Between CDW and FRONTEO

This module allows you to analyze existing cross correlation between CDW Corporation and FRONTEO. You can compare the effects of market volatilities on CDW and FRONTEO 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 CDW with a short position of FRONTEO. See also your portfolio center. Please also check ongoing floating volatility patterns of CDW and FRONTEO.
Horizon     30 Days    Login   to change
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Comparative Performance

CDW Corporation  
55

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in CDW Corporation are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days. Inspite fairly uncertain primary indicators, CDW may actually be approaching a critical reversion point that can send shares even higher in November 2019.
FRONTEO  
00

Risk-Adjusted Performance

Over the last 30 days FRONTEO has generated negative risk-adjusted returns adding no value to investors with long positions. Allthough quite persistent forward indicators, FRONTEO is not utilizing all of its potentials. The new stock price mess, may contribute to short term losses for the partners.

CDW and FRONTEO Volatility Contrast

 Predicted Return Density 
      Returns 

CDW Corp.  vs.  FRONTEO Inc

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, CDW Corporation is expected to generate 0.45 times more return on investment than FRONTEO. However, CDW Corporation is 2.23 times less risky than FRONTEO. It trades about 0.09 of its potential returns per unit of risk. FRONTEO is currently generating about 0.0 per unit of risk. If you would invest  11,202  in CDW Corporation on September 19, 2019 and sell it today you would earn a total of  1,189  from holding CDW Corporation or generate 10.61% return on investment over 30 days.

Pair Corralation between CDW and FRONTEO

-0.16
Time Period3 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy95.31%
ValuesDaily Returns

Diversification Opportunities for CDW and FRONTEO

CDW Corp. diversification synergy

Good diversification

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