This module allows you to analyze existing cross correlation between Digimarc Corporation and Altaba. You can compare the effects of market volatilities on Digimarc and Altaba 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 Digimarc with a short position of Altaba. See also your portfolio center. Please also check ongoing floating volatility patterns of Digimarc and Altaba.
Given the investment horizon of 30 days, Digimarc Corporation is expected to generate 1.47 times more return on investment than Altaba. However, Digimarc is 1.47 times more volatile than Altaba. It trades about 0.01 of its potential returns per unit of risk. Altaba is currently generating about -0.15 per unit of risk. If you would invest 2,655 in Digimarc Corporation on March 26, 2018 and sell it today you would earn a total of 0.00 from holding Digimarc Corporation or generate 0.0% return on investment over 30 days.
Overlapping area represents the amount of risk that can be diversified away by holding Digimarc Corp. and Altaba Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Altaba and Digimarc 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 Digimarc Corporation are associated (or correlated) with Altaba. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Altaba has no effect on the direction of Digimarc i.e. Digimarc and Altaba go up and down completely randomly.
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