Correlation Analysis Between Digimarc and Altaba

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.
Horizon     30 Days    Login   to change
Compare Efficiency

Comparative Performance


Risk-Adjusted Performance

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

Risk-Adjusted Performance

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

 Predicted Return Density 

Digimarc Corp.  vs.  Altaba Inc

 Performance (%) 

Pair Volatility

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 Period2 Months [change]
ValuesDaily Returns

Diversification Opportunities for Digimarc and Altaba

Digimarc Corp. diversification synergy

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.

Thematic Opportunities

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See also your portfolio center. Please also try Fundamentals Matrix module to view fundamentals matrix and analyze how accounts are interrelated and interconnected with each other.