This module allows you to analyze existing cross correlation between Mentor Graphics Corporation and Digimarc Corporation. You can compare the effects of market volatilities on Mentor Graphics 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 Mentor Graphics with a short position of Digimarc. See also your portfolio center
. Please also check ongoing floating volatility patterns of Mentor Graphics
Mentor Graphics Corp. vs Digimarc Corp.
If you would invest 3,726 in Mentor Graphics Corporation on February 16, 2018 and sell it today you would earn a total of 0.00 from holding Mentor Graphics Corporation or generate 0.0% return on investment over 30 days.
|Time Period||1 Month [change]|
Very good diversification
Overlapping area represents the amount of risk that can be diversified away by holding Mentor Graphics Corp. and Digimarc Corp. in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Digimarc and Mentor Graphics 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 Mentor Graphics Corporation 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 Mentor Graphics i.e. Mentor Graphics and Digimarc go up and down completely randomly.
Over the last 30 days Digimarc Corporation has generated negative risk-adjusted returns adding no value to investors with long positions.