Correlation Analysis Between Iteris and Blonder Tongue

This module allows you to analyze existing cross correlation between Iteris and Blonder Tongue Laboratories In. You can compare the effects of market volatilities on Iteris and Blonder Tongue 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 Iteris with a short position of Blonder Tongue. See also your portfolio center. Please also check ongoing floating volatility patterns of Iteris and Blonder Tongue.
Horizon     30 Days    Login   to change
Symbolsvs
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Comparative Performance

Iteris  
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Risk-Adjusted Performance

Over the last 30 days Iteris has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable fundamental indicators, Iteris is not utilizing all of its potentials. The prevalent stock price disturbance, may contribute to mid-run losses for the stockholder.
Blonder Tongue Labor  
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Risk-Adjusted Performance

Over the last 30 days Blonder Tongue Laboratories In has generated negative risk-adjusted returns adding no value to investors with long positions. In defiance of relatively invariable forward-looking signals, Blonder Tongue is not utilizing all of its potentials. The prevalent stock price agitation, may contribute to short term losses for the management.

Iteris and Blonder Tongue Volatility Contrast

 Predicted Return Density 
      Returns 

Iteris Inc  vs.  Blonder Tongue Laboratories In

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, Iteris is expected to under-perform the Blonder Tongue. But the stock apears to be less risky and, when comparing its historical volatility, Iteris is 2.15 times less risky than Blonder Tongue. The stock trades about -0.03 of its potential returns per unit of risk. The Blonder Tongue Laboratories In is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest  68.02  in Blonder Tongue Laboratories In on October 21, 2019 and sell it today you would lose (4.01)  from holding Blonder Tongue Laboratories In or give up 5.9% of portfolio value over 30 days.

Pair Corralation between Iteris and Blonder Tongue

0.15
Time Period3 Months [change]
DirectionPositive 
StrengthInsignificant
Accuracy98.44%
ValuesDaily Returns

Diversification Opportunities for Iteris and Blonder Tongue

Iteris Inc diversification synergy

Average diversification

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