Correlation Analysis Between Mid America and Dynex Capital

This module allows you to analyze existing cross correlation between Mid America Apartment Communiti and Dynex Capital. You can compare the effects of market volatilities on Mid America and Dynex Capital 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 Mid America with a short position of Dynex Capital. See also your portfolio center. Please also check ongoing floating volatility patterns of Mid America and Dynex Capital.
Horizon     30 Days    Login   to change
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Comparative Performance

Mid America Apartment  
88

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Mid America Apartment Communiti are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days. Despite somewhat conflicting basic indicators, Mid America may actually be approaching a critical reversion point that can send shares even higher in October 2019.
Dynex Capital  
00

Risk-Adjusted Performance

Over the last 30 days Dynex Capital has generated negative risk-adjusted returns adding no value to investors with long positions. Inspite latest conflicting performance, the Stock's basic indicators remain strong and the current disturbance on Wall Street may also be a sign of long term gains for the company investors.

Mid America and Dynex Capital Volatility Contrast

 Predicted Return Density 
      Returns 

Mid America Apartment Communit  vs.  Dynex Capital Inc

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, Mid America Apartment Communiti is expected to generate 0.79 times more return on investment than Dynex Capital. However, Mid America Apartment Communiti is 1.26 times less risky than Dynex Capital. It trades about 0.13 of its potential returns per unit of risk. Dynex Capital is currently generating about -0.09 per unit of risk. If you would invest  11,826  in Mid America Apartment Communiti on August 18, 2019 and sell it today you would earn a total of  980.00  from holding Mid America Apartment Communiti or generate 8.29% return on investment over 30 days.

Pair Corralation between Mid America and Dynex Capital

0.05
Time Period3 Months [change]
DirectionPositive 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Mid America and Dynex Capital

Mid America Apartment Communit diversification synergy

Significant diversification

Overlapping area represents the amount of risk that can be diversified away by holding Mid America Apartment Communit and Dynex Capital Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Dynex Capital and Mid America 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 Mid America Apartment Communiti are associated (or correlated) with Dynex Capital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dynex Capital has no effect on the direction of Mid America i.e. Mid America and Dynex Capital go up and down completely randomly.
See also your portfolio center. Please also try Fundamental Analysis module to view fundamental data based on most recent published financial statements.


 
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