Correlation Analysis Between Cinemark Holdings and DISH Network

This module allows you to analyze existing cross correlation between Cinemark Holdings 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.
 Time Horizon     30 Days    Login   to change
Symbolsvs

Cinemark Holdings Inc  vs.  DISH Network Corp.

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, Cinemark Holdings is expected to generate 5.85 times less return on investment than DISH Network. But when comparing it to its historical volatility, Cinemark Holdings is 1.94 times less risky than DISH Network. It trades about 0.07 of its potential returns per unit of risk. DISH Network Corporation is currently generating about 0.21 of returns per unit of risk over similar time horizon. If you would invest  3,184  in DISH Network Corporation on May 19, 2018 and sell it today you would earn a total of  277.00  from holding DISH Network Corporation or generate 8.7% return on investment over 30 days.

Pair Corralation between Cinemark Holdings and DISH Network

0.82
Time Period1 Month [change]
DirectionPositive 
StrengthStrong
Accuracy95.0%
ValuesDaily Returns

Diversification

Very poor 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 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.

Comparative Volatility

 Predicted Return Density 
      Returns 
Cinemark Holdings  
4 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Cinemark Holdings are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.
DISH Network  
14 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in DISH Network Corporation are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1152.26

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