Correlation Analysis Between Dillards and SPTSX Comp

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

 Predicted Return Density 
      Returns 

Dillards Inc  vs.  SPTSX Comp

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, Dillards is expected to generate 5.16 times more return on investment than SPTSX Comp. However, Dillards is 5.16 times more volatile than SPTSX Comp. It trades about 0.12 of its potential returns per unit of risk. SPTSX Comp is currently generating about 0.02 per unit of risk. If you would invest  5,740  in Dillards on June 19, 2019 and sell it today you would earn a total of  660.00  from holding Dillards or generate 11.5% return on investment over 30 days.

Pair Corralation between Dillards and SPTSX Comp

0.65
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Dillards and SPTSX Comp

Dillards Inc diversification synergy

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Dillards Inc and SPTSX Comp in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on SPTSX Comp and Dillards 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 Dillards are associated (or correlated) with SPTSX Comp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SPTSX Comp has no effect on the direction of Dillards i.e. Dillards and SPTSX Comp go up and down completely randomly.
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See also your portfolio center. Please also try Commodity Channel Index module to use commodity channel index to analyze current equity momentum.


 
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