This module allows you to analyze existing cross correlation between Eros International Plc and DHX Media Ltd. You can compare the effects of market volatilities on Eros International 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 Eros International with a short position of DHX Media. See also your portfolio center
. Please also check ongoing floating volatility patterns of Eros International
and DHX Media
Eros International Plc vs DHX Media Ltd
Given the investment horizon of 30 days, Eros International Plc is expected to generate 1.43 times more return on investment than DHX Media. However, Eros International is 1.43 times more volatile than DHX Media Ltd. It trades about 0.3 of its potential returns per unit of risk. DHX Media Ltd is currently generating about 0.21 per unit of risk. If you would invest 920 in Eros International Plc on December 20, 2017 and sell it today you would earn a total of 180 from holding Eros International Plc or generate 19.57% return on investment over 30 days.
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Overlapping area represents the amount of risk that can be diversified away by holding Eros International Plc 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 Eros International 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 Eros International Plc 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 Eros International i.e. Eros International and DHX Media go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Eros International Plc are ranked lower than 19 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in DHX Media Ltd are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.