Correlation Analysis Between DOW and Ab Cap

Analyzing existing cross correlation between DOW and Ab Cap Fund Inc - Ab Global Core Equity Portfo. You can compare the effects of market volatilities on DOW and Ab Cap 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 Ab Cap. See also your portfolio center. Please also check ongoing floating volatility patterns of DOW and Ab Cap.
Horizon     30 Days    Login   to change
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Comparative Performance

 Predicted Return Density 
    
  Returns 

DOW  vs.  Ab Cap Fund Inc - Ab Global Co

 Performance (%) 
    
  Timeline 

Pair Volatility

Given the investment horizon of 30 days, DOW is expected to generate 0.71 times more return on investment than Ab Cap. However, DOW is 1.4 times less risky than Ab Cap. It trades about 0.31 of its potential returns per unit of risk. Ab Cap Fund Inc - Ab Global Core Equity Portfo is currently generating about 0.16 per unit of risk. If you would invest  2,682,764  in DOW on December 19, 2019 and sell it today you would earn a total of  252,046  from holding DOW or generate 9.4% return on investment over 30 days.

Pair Corralation between DOW and Ab Cap

0.87
Time Period3 Months [change]
DirectionPositive 
StrengthStrong
Accuracy98.44%
ValuesDaily Returns

Diversification Opportunities for DOW and Ab Cap

DOW diversification synergy

Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding DOW and Ab Cap Fund Inc - Ab Global Co in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Ab Cap Fund 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 Ab Cap. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ab Cap Fund has no effect on the direction of DOW i.e. DOW and Ab Cap go up and down completely randomly.
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See also your portfolio center. Please also try Coins and Tokens Correlation module to utilize digital token correlation table to build portfolio of cryptocurrencies across multiple exchanges.