Correlation Analysis Between DHX Media and 500

This module allows you to analyze existing cross correlation between DHX Media Ltd and 500 Limited. You can compare the effects of market volatilities on DHX Media and 500 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 DHX Media with a short position of 500. See also your portfolio center. Please also check ongoing floating volatility patterns of DHX Media and 500.
 Time Horizon     30 Days    Login   to change
Symbolsvs

DHX Media Ltd  vs.  500 com Limited

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, DHX Media Ltd is expected to under-perform the 500. In addition to that, DHX Media is 1.16 times more volatile than 500 Limited. It trades about -0.16 of its total potential returns per unit of risk. 500 Limited is currently generating about -0.12 per unit of volatility. If you would invest  1,541  in 500 Limited on June 19, 2018 and sell it today you would lose (136.00)  from holding 500 Limited or give up 8.83% of portfolio value over 30 days.

Pair Corralation between DHX Media and 500

0.76
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding DHX Media Ltd and 500 com Limited in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on 500 Limited and DHX Media 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 DHX Media Ltd are associated (or correlated) with 500. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 500 Limited has no effect on the direction of DHX Media i.e. DHX Media and 500 go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
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.
500 Limited  
0 

Risk-Adjusted Performance

Over the last 30 days 500 Limited has generated negative risk-adjusted returns adding no value to investors with long positions.

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ExchangeNASDAQ
$1192.45

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