Correlation Analysis Between Zayo Group and ATT

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

Comparative Performance

Zayo Group Holdings  
0

Risk-Adjusted Performance

Over the last 30 days Zayo Group Holdings has generated negative risk-adjusted returns adding no value to investors with long positions.
ATT  
0

Risk-Adjusted Performance

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

Zayo Group and ATT Volatility Contrast

 Predicted Return Density 
      Returns 

Zayo Group Holdings Inc  vs.  ATT

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Zayo Group Holdings is expected to generate 1.22 times more return on investment than ATT. However, Zayo Group is 1.22 times more volatile than ATT. It trades about 0.25 of its potential returns per unit of risk. ATT is currently generating about 0.11 per unit of risk. If you would invest  2,068  in Zayo Group Holdings on January 20, 2019 and sell it today you would earn a total of  483.00  from holding Zayo Group Holdings or generate 23.36% return on investment over 30 days.

Pair Corralation between Zayo Group and ATT

0.7
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Zayo Group and ATT

Zayo Group Holdings Inc diversification synergy

Poor diversification

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

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