Correlation Analysis Between Dollar General and All Ords

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

 Predicted Return Density 
      Returns 

Dollar General Corp.  vs.  All Ords

 Performance (%) 
      Timeline 

Pair Volatility

Allowing for the 30-days total investment horizon, Dollar General Corporation is expected to generate 1.12 times more return on investment than All Ords. However, Dollar General is 1.12 times more volatile than All Ords. It trades about 0.0 of its potential returns per unit of risk. All Ords is currently generating about -0.05 per unit of risk. If you would invest  13,714  in Dollar General Corporation on July 24, 2019 and sell it today you would lose (15.00)  from holding Dollar General Corporation or give up 0.11% of portfolio value over 30 days.

Pair Corralation between Dollar General and All Ords

-0.04
Time Period2 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy80.0%
ValuesDaily Returns

Diversification Opportunities for Dollar General and All Ords

Dollar General Corp. diversification synergy

Good diversification

Overlapping area represents the amount of risk that can be diversified away by holding Dollar General Corp. and All Ords in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on All Ords and Dollar General 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 Dollar General Corporation are associated (or correlated) with All Ords. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of All Ords has no effect on the direction of Dollar General i.e. Dollar General and All Ords go up and down completely randomly.
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See also your portfolio center. Please also try Price Transformation module to use price transformation models to analyze depth of different equity instruments across global markets.


 
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