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 Corporation is expected to under-perform the Altaba. But the stock apears to be less risky and, when comparing its historical volatility, Digimarc Corporation is 1.0 times less risky than Altaba. The stock trades about -0.09 of its potential returns per unit of risk. The Altaba Inc is currently generating about -0.07 of returns per unit of risk over similar time horizon. If you would invest 7,552 in Altaba Inc on February 22, 2018 and sell it today you would lose (252.00) from holding Altaba Inc or give up 3.34% of portfolio value 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.
Over the last 30 days Digimarc Corporation has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days Altaba Inc has generated negative risk-adjusted returns adding no value to investors with long positions.