Correlation Analysis Between Diamond Hill and Associated Capital

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

Diamond Hill Investment  
33

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Diamond Hill Investment Group are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days. Even with considerably steady technical indicators, Diamond Hill is not utilizing all of its potentials. The current stock price chaos, may contribute to medium term losses for the stakeholders.
Associated Capital  
00

Risk-Adjusted Performance

Over the last 30 days Associated Capital Group has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, Associated Capital is not utilizing all of its potentials. The new stock price disturbance, may contribute to short term losses for the investors.

Diamond Hill and Associated Capital Volatility Contrast

 Predicted Return Density 
      Returns 

Diamond Hill Investment Group  vs.  Associated Capital Group Inc

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Diamond Hill Investment Group is expected to generate 0.71 times more return on investment than Associated Capital. However, Diamond Hill Investment Group is 1.4 times less risky than Associated Capital. It trades about 0.05 of its potential returns per unit of risk. Associated Capital Group is currently generating about -0.01 per unit of risk. If you would invest  13,595  in Diamond Hill Investment Group on November 14, 2019 and sell it today you would earn a total of  535.00  from holding Diamond Hill Investment Group or generate 3.94% return on investment over 30 days.

Pair Corralation between Diamond Hill and Associated Capital

0.03
Time Period3 Months [change]
DirectionPositive 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Diamond Hill and Associated Capital

Diamond Hill Investment Group diversification synergy

Significant diversification

Overlapping area represents the amount of risk that can be diversified away by holding Diamond Hill Investment Group and Associated Capital Group Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Associated Capital and Diamond Hill 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 Diamond Hill Investment Group are associated (or correlated) with Associated Capital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Associated Capital has no effect on the direction of Diamond Hill i.e. Diamond Hill and Associated Capital go up and down completely randomly.
See also your portfolio center. Please also try Technical Analysis module to check basic technical indicators and analysis based on most latest market data.


 
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