Correlation Analysis Between Iteris and FRANKLIN WIRELESS

This module allows you to analyze existing cross correlation between Iteris and FRANKLIN WIRELESS CORPORATION. You can compare the effects of market volatilities on Iteris and FRANKLIN WIRELESS 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 FRANKLIN WIRELESS. See also your portfolio center. Please also check ongoing floating volatility patterns of Iteris and FRANKLIN WIRELESS.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

Comparative Performance

Iteris  
88

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Iteris are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days. Despite nearly conflicting fundamental indicators, Iteris layed out solid returns over the last few months and may actually be approaching a breakup point.
FRANKLIN WIRELESS  
00

Risk-Adjusted Performance

Over the last 30 days FRANKLIN WIRELESS CORPORATION has generated negative risk-adjusted returns adding no value to investors with long positions. Even with considerably steady technical indicators, FRANKLIN WIRELESS is not utilizing all of its potentials. The existing stock price chaos, may contribute to medium term losses for the stakeholders.

Iteris and FRANKLIN WIRELESS Volatility Contrast

 Predicted Return Density 
      Returns 

Iteris Inc  vs.  FRANKLIN WIRELESS CORPORATION

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, Iteris is expected to generate 0.43 times more return on investment than FRANKLIN WIRELESS. However, Iteris is 2.31 times less risky than FRANKLIN WIRELESS. It trades about 0.12 of its potential returns per unit of risk. FRANKLIN WIRELESS CORPORATION is currently generating about 0.0 per unit of risk. If you would invest  520.00  in Iteris on August 22, 2019 and sell it today you would earn a total of  89.00  from holding Iteris or generate 17.12% return on investment over 30 days.

Pair Corralation between Iteris and FRANKLIN WIRELESS

-0.6
Time Period3 Months [change]
DirectionNegative 
StrengthWeak
Accuracy95.45%
ValuesDaily Returns

Diversification Opportunities for Iteris and FRANKLIN WIRELESS

Iteris Inc diversification synergy

Excellent diversification

Overlapping area represents the amount of risk that can be diversified away by holding Iteris Inc and FRANKLIN WIRELESS CORPORATION in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on FRANKLIN WIRELESS 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 FRANKLIN WIRELESS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FRANKLIN WIRELESS has no effect on the direction of Iteris i.e. Iteris and FRANKLIN WIRELESS go up and down completely randomly.
See also your portfolio center. Please also try Pattern Recognition module to use different pattern recognition models to time the market across multiple global exchanges.


 
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