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Projected Return Density Against Market
Assuming 30 trading days horizon, 30298570 has beta of 0.0292 . This suggests as returns on market go up, 30298570 average returns are expected to increase less than the benchmark. However during bear market, the loss on holding 30298570 will be expected to be much smaller as well. Moreover, 30298570 has an alpha of 0.0499 implying that it can potentially generate 0.0499% excess return over DOW after adjusting for the inherited market risk (beta).
DOW has a standard deviation of returns of 0.65 and is 9.223372036854776E16 times more volatile than 30298570. 0% of all equities and portfolios are less risky than 30298570. Compared to the overall equity markets, volatility of historical daily returns of 30298570 is lower than 0 (%) of all global equities and portfolios over the last 30 days. Use 30298570 to enhance returns of your portfolios. The fund experiences normal upward fluctuation. Check odds of 30298570 to be traded at $11.3 in 30 days. As returns on market increase, 30298570 returns are expected to increase less than the market. However during bear market, the loss on holding 30298570 will be expected to be smaller as well.
30298570 correlation with market
Significant diversificationOverlapping area represents the amount of risk that can be diversified away by holding 30298570 and equity matching DJI index in the same portfolio.