This module allows you to analyze existing cross correlation between Cinemark Holdings Inc and DISH Network Corporation. You can compare the effects of market volatilities on Cinemark Holdings and DISH Network 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 Cinemark Holdings with a short position of DISH Network. See also your portfolio center
. Please also check ongoing floating volatility patterns of Cinemark Holdings
and DISH Network
Cinemark Holdings Inc vs DISH Network Corp.
Considering 30-days investment horizon, Cinemark Holdings Inc is expected to generate 0.72 times more return on investment than DISH Network. However, Cinemark Holdings Inc is 1.38 times less risky than DISH Network. It trades about 0.05 of its potential returns per unit of risk. DISH Network Corporation is currently generating about -0.17 per unit of risk. If you would invest 3,523 in Cinemark Holdings Inc on September 19, 2017 and sell it today you would earn a total of 47 from holding Cinemark Holdings Inc or generate 1.33% return on investment over 30 days.
|Time Period||1 Month [change]|
Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding Cinemark Holdings Inc and DISH Network Corp. in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on DISH Network and Cinemark Holdings 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 Cinemark Holdings Inc are associated (or correlated) with DISH Network. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DISH Network has no effect on the direction of Cinemark Holdings i.e. Cinemark Holdings and DISH Network go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Cinemark Holdings Inc are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.
Over the last 30 days DISH Network Corporation has generated negative risk-adjusted returns adding no value to investors with long positions.