This module allows you to analyze existing cross correlation between Digimarc Corporation and Altaba Inc. You can compare the effects of market volatilities on Digimarc and Altaba 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 Digimarc with a short position of Altaba. See also your portfolio center
. Please also check ongoing floating volatility patterns of Digimarc
Digimarc Corp. vs Altaba Inc.
Given the investment horizon of 30 days, Digimarc is expected to generate 1.59 times less return on investment than Altaba. In addition to that, Digimarc is 1.04 times more volatile than Altaba Inc. It trades about 0.16 of its total potential returns per unit of risk. Altaba Inc is currently generating about 0.27 per unit of volatility. If you would invest 7,014 in Altaba Inc on December 17, 2017 and sell it today you would earn a total of 513 from holding Altaba Inc or generate 7.31% return on investment over 30 days.
|Time Period||1 Month [change]|
Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding Digimarc Corp. and Altaba Inc. in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Altaba Inc and Digimarc 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 Digimarc Corporation are associated (or correlated) with Altaba. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Altaba Inc has no effect on the direction of Digimarc i.e. Digimarc and Altaba go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Digimarc Corporation are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Altaba Inc are ranked lower than 17 (%) of all global equities and portfolios over the last 30 days.