Correlation Analysis Between DXC Technology and CDW

This module allows you to analyze existing cross correlation between DXC Technology Company and CDW Corporation. You can compare the effects of market volatilities on DXC Technology and CDW 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 DXC Technology with a short position of CDW. See also your portfolio center. Please also check ongoing floating volatility patterns of DXC Technology and CDW.
Horizon     30 Days    Login   to change
Symbolsvs
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Comparative Performance

DXC Technology  
00

Risk-Adjusted Performance

Over the last 30 days DXC Technology Company has generated negative risk-adjusted returns adding no value to investors with long positions. Despite uncertain performance in the last few months, the Stock's basic indicators remain somewhat strong which may send shares a bit higher in November 2019. The current disturbance may also be a sign of long term up-swing for the company investors.
CDW Corporation  
55

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in CDW Corporation are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days. Inspite fairly uncertain primary indicators, CDW may actually be approaching a critical reversion point that can send shares even higher in November 2019.

DXC Technology and CDW Volatility Contrast

 Predicted Return Density 
      Returns 

DXC Technology Company  vs.  CDW Corp.

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, DXC Technology Company is expected to under-perform the CDW. In addition to that, DXC Technology is 2.43 times more volatile than CDW Corporation. It trades about -0.2 of its total potential returns per unit of risk. CDW Corporation is currently generating about 0.08 per unit of volatility. If you would invest  11,336  in CDW Corporation on September 21, 2019 and sell it today you would earn a total of  1,136  from holding CDW Corporation or generate 10.02% return on investment over 30 days.

Pair Corralation between DXC Technology and CDW

-0.53
Time Period3 Months [change]
DirectionNegative 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for DXC Technology and CDW

DXC Technology Company diversification synergy

Excellent diversification

Overlapping area represents the amount of risk that can be diversified away by holding DXC Technology Company and CDW Corp. in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on CDW Corporation and DXC Technology 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 DXC Technology Company are associated (or correlated) with CDW. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CDW Corporation has no effect on the direction of DXC Technology i.e. DXC Technology and CDW go up and down completely randomly.
See also your portfolio center. Please also try Volatility Analysis module to get historical volatility and risk analysis based on latest market data.


 
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