Pair Correlation Between Verint Systems and Altaba

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

Verint Systems Inc  vs.  Altaba Inc

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Verint Systems is expected to generate 1.43 times more return on investment than Altaba. However, Verint Systems is 1.43 times more volatile than Altaba. It trades about 0.04 of its potential returns per unit of risk. Altaba is currently generating about -0.14 per unit of risk. If you would invest  4,010  in Verint Systems on March 26, 2018 and sell it today you would earn a total of  120.00  from holding Verint Systems or generate 2.99% return on investment over 30 days.

Pair Corralation between Verint Systems and Altaba

-0.35
Time Period2 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Very good diversification

Overlapping area represents the amount of risk that can be diversified away by holding Verint Systems Inc and Altaba Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Altaba and Verint Systems 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 Verint Systems are associated (or correlated) with Altaba. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Altaba has no effect on the direction of Verint Systems i.e. Verint Systems and Altaba go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Verint Systems  
2 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Verint Systems are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.
Altaba  
0 

Risk-Adjusted Performance

Over the last 30 days Altaba has generated negative risk-adjusted returns adding no value to investors with long positions.

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Alphabet
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IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1021.18

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See also your portfolio center. Please also try Cryptocurrency Correlation module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins and exchanges.