Correlation Analysis Between Digimarc and International Business

Analyzing existing cross correlation between Digimarc Corporation and International Business Machines. You can compare the effects of market volatilities on Digimarc and International Business 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 International Business. See also your portfolio center. Please also check ongoing floating volatility patterns of Digimarc and International Business.
Horizon     30 Days    Login   to change
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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. Despite somewhat strong basic indicators, Digimarc is not utilizing all of its potentials. The ongoing stock price disturbance, may contribute to short term losses for the investors.
International Business  

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in International Business Machines are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days. Even with considerably steady technical indicators, International Business is not utilizing all of its potentials. The ongoing stock price chaos, may contribute to medium term losses for the stakeholders.

Digimarc and International Business Volatility Contrast

 Predicted Return Density 

Digimarc Corp.  vs.  International Business Machine

 Performance (%) 

Pair Volatility

Given the investment horizon of 30 days, Digimarc Corporation is expected to under-perform the International Business. In addition to that, Digimarc is 5.03 times more volatile than International Business Machines. It trades about -0.02 of its total potential returns per unit of risk. International Business Machines is currently generating about 0.09 per unit of volatility. If you would invest  13,258  in International Business Machines on December 18, 2019 and sell it today you would earn a total of  540.00  from holding International Business Machines or generate 4.07% return on investment over 30 days.

Pair Corralation between Digimarc and International Business

Time Period3 Months [change]
StrengthVery Weak
ValuesDaily Returns

Diversification Opportunities for Digimarc and International Business

Digimarc Corp. diversification synergy

Modest diversification

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