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
Over the last 30 days Digimarc Corporation 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 Altaba are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.
Digimarc and Altaba Volatility Contrast
Digimarc Corp. vs. Altaba Inc
Given the investment horizon of 30 days, Digimarc is expected to generate 1.75 times less return on investment than Altaba. In addition to that, Digimarc is 2.32 times more volatile than Altaba. It trades about 0.01 of its total potential returns per unit of risk. Altaba is currently generating about 0.06 per unit of volatility. If you would invest 6,215 in Altaba on December 21, 2018 and sell it today you would earn a total of 249.00 from holding Altaba or generate 4.01% return on investment over 30 days.
Pair Corralation between Digimarc and Altaba
|Time Period||2 Months [change]|
Diversification Opportunities for Digimarc and Altaba
Very poor diversification
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.