This module allows you to analyze existing cross correlation between Dime Community Bancshares and Axos Financial. You can compare the effects of market volatilities on Dime Community and Axos Financial 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 Dime Community with a short position of Axos Financial. See also your portfolio center. Please also check ongoing floating volatility patterns of Dime Community and Axos Financial.
|Horizon||30 Days Login to change|
|Dime Community Bancs|
Compared to the overall equity markets, risk-adjusted returns on investments in Dime Community Bancshares are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days. Even with considerably weak technical indicators, Dime Community revealed solid returns over the last few months and may actually be approaching a breakup point.
Over the last 30 days Axos Financial has generated negative risk-adjusted returns adding no value to investors with long positions. Inspite fairly strong basic indicators, Axos Financial is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.
Dime Community and Axos Financial Volatility Contrast
Predicted Return Density
Dime Community Bancshares Inc vs. Axos Financial Inc
Given the investment horizon of 30 days, Dime Community Bancshares is expected to generate 0.8 times more return on investment than Axos Financial. However, Dime Community Bancshares is 1.25 times less risky than Axos Financial. It trades about 0.12 of its potential returns per unit of risk. Axos Financial is currently generating about -0.02 per unit of risk. If you would invest 1,821 in Dime Community Bancshares on July 25, 2019 and sell it today you would earn a total of 163.00 from holding Dime Community Bancshares or generate 8.95% return on investment over 30 days.
Pair Corralation between Dime Community and Axos Financial
|Time Period||2 Months [change]|
Diversification Opportunities for Dime Community and Axos Financial
Overlapping area represents the amount of risk that can be diversified away by holding Dime Community Bancshares Inc and Axos Financial Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Axos Financial and Dime Community 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 Dime Community Bancshares are associated (or correlated) with Axos Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Axos Financial has no effect on the direction of Dime Community i.e. Dime Community and Axos Financial go up and down completely randomly.
See also your portfolio center. Please also try Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. drill down to check world indexes.