This module allows you to analyze existing cross correlation between DHX Media Ltd and 500 com Limited. You can compare the effects of market volatilities on DHX Media and 500 com 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 com. See also your portfolio center
. Please also check ongoing floating volatility patterns of DHX Media
and 500 com
DHX Media Ltd vs 500 com Limited
Given the investment horizon of 30 days, DHX Media Ltd is expected to under-perform the 500 com. But the stock apears to be less risky and, when comparing its historical volatility, DHX Media Ltd is 1.26 times less risky than 500 com. The stock trades about -0.19 of its potential returns per unit of risk. The 500 com Limited is currently generating about 0.14 of returns per unit of risk over similar time horizon. If you would invest 1,745 in 500 com Limited on February 17, 2018 and sell it today you would earn a total of 167.00 from holding 500 com Limited or generate 9.57% return on investment over 30 days.
|Time Period||1 Month [change]|
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 com 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 com. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 500 com Limited has no effect on the direction of DHX Media i.e. DHX Media and 500 com go up and down completely randomly.
Over the last 30 days DHX Media Ltd has generated negative risk-adjusted returns adding no value to investors with long positions.
Compared to the overall equity markets, risk-adjusted returns on investments in 500 com Limited are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.