Correlation Analysis Between Emerald Expositions and Visa

Analyzing existing cross correlation between Emerald Expositions Events and Visa. You can compare the effects of market volatilities on Emerald Expositions and Visa 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 Emerald Expositions with a short position of Visa. See also your portfolio center. Please also check ongoing floating volatility patterns of Emerald Expositions and Visa.
Horizon     30 Days    Login   to change
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Comparative Performance

Emerald Expositions  
55

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Emerald Expositions Events are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days. Inspite fairly abnormal basic indicators, Emerald Expositions may actually be approaching a critical reversion point that can send shares even higher in February 2020.
Visa  
1717

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Visa are ranked lower than 17 (%) of all global equities and portfolios over the last 30 days. Inspite fairly abnormal primary indicators, Visa showed solid returns over the last few months and may actually be approaching a breakup point.

Emerald Expositions and Visa Volatility Contrast

 Predicted Return Density 
    
  Returns 

Emerald Expositions Events Inc  vs.  Visa Inc

 Performance (%) 
    
  Timeline 

Pair Volatility

Considering 30-days investment horizon, Emerald Expositions is expected to generate 1.53 times less return on investment than Visa. In addition to that, Emerald Expositions is 2.25 times more volatile than Visa. It trades about 0.08 of its total potential returns per unit of risk. Visa is currently generating about 0.26 per unit of volatility. If you would invest  17,984  in Visa on December 26, 2019 and sell it today you would earn a total of  2,516  from holding Visa or generate 13.99% return on investment over 30 days.

Pair Corralation between Emerald Expositions and Visa

0.68
Time Period3 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Emerald Expositions and Visa

Emerald Expositions Events Inc diversification synergy

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Emerald Expositions Events Inc and Visa Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Visa and Emerald Expositions 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 Emerald Expositions Events are associated (or correlated) with Visa. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Visa has no effect on the direction of Emerald Expositions i.e. Emerald Expositions and Visa go up and down completely randomly.
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