Correlation Analysis Between DreamWorks Animation and DHX Media

This module allows you to analyze existing cross correlation between DreamWorks Animation SKG and DHX Media Ltd. You can compare the effects of market volatilities on DreamWorks Animation and DHX Media 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 DreamWorks Animation with a short position of DHX Media. See also your portfolio center. Please also check ongoing floating volatility patterns of DreamWorks Animation and DHX Media.
 Time Horizon     30 Days    Login   to change
Symbolsvs

DreamWorks Animation SKG Inc  vs.  DHX Media Ltd

 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  4,097  in DreamWorks Animation SKG on May 24, 2018 and sell it today you would earn a total of  0.00  from holding DreamWorks Animation SKG or generate 0.0% return on investment over 30 days.

Pair Corralation between DreamWorks Animation and DHX Media

0.53
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy28.57%
ValuesDaily Returns

Diversification

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding DreamWorks Animation SKG Inc and DHX Media Ltd in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on DHX Media Ltd and DreamWorks Animation 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 DreamWorks Animation SKG are associated (or correlated) with DHX Media. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DHX Media Ltd has no effect on the direction of DreamWorks Animation i.e. DreamWorks Animation and DHX Media go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
DreamWorks Animation  
0 

Risk-Adjusted Performance

Over the last 30 days DreamWorks Animation SKG has generated negative risk-adjusted returns adding no value to investors with long positions.
DHX Media Ltd  
0 

Risk-Adjusted Performance

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

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IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1169.84

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