Correlation Analysis Between Altaba and ATT

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

Altaba  
33

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Altaba are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days. Despite somewhat strong basic indicators, Altaba is not utilizing all of its potentials. The prevailing stock price disturbance, may contribute to short term losses for the investors.
ATT  
1414

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in ATT are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days. In spite of comparatively sluggish essential indicators, ATT unveiled solid returns over the last few months and may actually be approaching a breakup point.

Altaba and ATT Volatility Contrast

 Predicted Return Density 
      Returns 

Altaba Inc  vs.  ATT Inc

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Altaba is expected to generate 10.75 times less return on investment than ATT. But when comparing it to its historical volatility, Altaba is 2.39 times less risky than ATT. It trades about 0.05 of its potential returns per unit of risk. ATT is currently generating about 0.21 of returns per unit of risk over similar time horizon. If you would invest  3,205  in ATT on August 19, 2019 and sell it today you would earn a total of  511.00  from holding ATT or generate 15.94% return on investment over 30 days.

Pair Corralation between Altaba and ATT

0.98
Time Period3 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Altaba and ATT

Altaba Inc diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding Altaba Inc and ATT Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on ATT and Altaba 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 Altaba 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 Altaba i.e. Altaba and ATT go up and down completely randomly.
See also your portfolio center. Please also try Equity Valuation module to check real value of public entities based on technical and fundamental data.


 
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