This module allows you to analyze existing cross correlation between VASCO Data Security International Inc and Digimarc Corporation. You can compare the effects of market volatilities on VASCO Data 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 VASCO Data with a short position of Digimarc. See also your portfolio center
. Please also check ongoing floating volatility patterns of VASCO Data
VASCO Data Security Internatio vs Digimarc Corp.
Given the investment horizon of 30 days, VASCO Data is expected to generate 1.07 times less return on investment than Digimarc. But when comparing it to its historical volatility, VASCO Data Security International Inc is 1.17 times less risky than Digimarc. It trades about 0.27 of its potential returns per unit of risk. Digimarc Corporation is currently generating about 0.25 of returns per unit of risk over similar time horizon. If you would invest 3,270 in Digimarc Corporation on September 22, 2017 and sell it today you would earn a total of 400 from holding Digimarc Corporation or generate 12.23% return on investment over 30 days.
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Very poor diversification
Overlapping area represents the amount of risk that can be diversified away by holding VASCO Data Security Internatio and Digimarc Corp. in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Digimarc and VASCO Data 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 VASCO Data Security International Inc 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 VASCO Data i.e. VASCO Data and Digimarc go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in VASCO Data Security International Inc are ranked lower than 18 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Digimarc Corporation are ranked lower than 16 (%) of all global equities and portfolios over the last 30 days.