Correlation Analysis Between CGI and Digimarc

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

Comparative Performance

CGI  
00

Risk-Adjusted Performance

Over the last 30 days CGI has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, CGI is not utilizing all of its potentials. The new stock price disturbance, may contribute to short term losses for the investors.
Digimarc  
00

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 latest sluggish performance, the Stock's basic indicators remain strong and the current disturbance on Wall Street may also be a sign of long term gains for the company investors.

CGI and Digimarc Volatility Contrast

 Predicted Return Density 
      Returns 

CGI Inc  vs.  Digimarc Corp.

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, CGI is expected to generate 0.3 times more return on investment than Digimarc. However, CGI is 3.34 times less risky than Digimarc. It trades about -0.03 of its potential returns per unit of risk. Digimarc Corporation is currently generating about -0.04 per unit of risk. If you would invest  7,939  in CGI on September 19, 2019 and sell it today you would lose (174.00)  from holding CGI or give up 2.19% of portfolio value over 30 days.

Pair Corralation between CGI and Digimarc

0.13
Time Period3 Months [change]
DirectionPositive 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for CGI and Digimarc

CGI Inc diversification synergy

Average diversification

Overlapping area represents the amount of risk that can be diversified away by holding CGI Inc and Digimarc Corp. in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Digimarc and CGI 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 CGI are associated (or correlated) with Digimarc. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Digimarc has no effect on the direction of CGI i.e. CGI and Digimarc go up and down completely randomly.
See also your portfolio center. Please also try Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. drill down to check world indexes.


 
Search macroaxis.com