Correlation Analysis Between DOW and A10 Networks

This module allows you to analyze existing cross correlation between DOW and A10 Networks. You can compare the effects of market volatilities on DOW and A10 Networks 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 DOW with a short position of A10 Networks. See also your portfolio center. Please also check ongoing floating volatility patterns of DOW and A10 Networks.
Horizon     30 Days    Login   to change
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Comparative Performance

 Predicted Return Density 
      Returns 

DOW  vs.  A10 Networks Inc

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, DOW is expected to generate 6.43 times less return on investment than A10 Networks. But when comparing it to its historical volatility, DOW is 2.2 times less risky than A10 Networks. It trades about 0.02 of its potential returns per unit of risk. A10 Networks is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest  677.00  in A10 Networks on August 21, 2019 and sell it today you would earn a total of  56.00  from holding A10 Networks or generate 8.27% return on investment over 30 days.

Pair Corralation between DOW and A10 Networks

0.51
Time Period3 Months [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for DOW and A10 Networks

DOW diversification synergy

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding DOW and A10 Networks Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on A10 Networks and DOW 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 DOW are associated (or correlated) with A10 Networks. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of A10 Networks has no effect on the direction of DOW i.e. DOW and A10 Networks go up and down completely randomly.
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