Correlation Analysis Between ScanSource and Vipshop Holdings

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

ScanSource  
00

Risk-Adjusted Performance

Over the last 30 days ScanSource has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest weak 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.
Vipshop Holdings  
77

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Vipshop Holdings Limited are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days. In defiance of relatively weak forward-looking signals, Vipshop Holdings reported solid returns over the last few months and may actually be approaching a breakup point.

ScanSource and Vipshop Holdings Volatility Contrast

 Predicted Return Density 
      Returns 

ScanSource Inc  vs.  Vipshop Holdings Limited

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, ScanSource is expected to under-perform the Vipshop Holdings. But the stock apears to be less risky and, when comparing its historical volatility, ScanSource is 1.71 times less risky than Vipshop Holdings. The stock trades about -0.05 of its potential returns per unit of risk. The Vipshop Holdings Limited is currently generating about 0.11 of returns per unit of risk over similar time horizon. If you would invest  793.00  in Vipshop Holdings Limited on September 22, 2019 and sell it today you would earn a total of  183.00  from holding Vipshop Holdings Limited or generate 23.08% return on investment over 30 days.

Pair Corralation between ScanSource and Vipshop Holdings

-0.33
Time Period3 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for ScanSource and Vipshop Holdings

ScanSource Inc diversification synergy

Very good diversification

Overlapping area represents the amount of risk that can be diversified away by holding ScanSource Inc and Vipshop Holdings Limited in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Vipshop Holdings and ScanSource 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 ScanSource are associated (or correlated) with Vipshop Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Vipshop Holdings has no effect on the direction of ScanSource i.e. ScanSource and Vipshop Holdings go up and down completely randomly.
See also your portfolio center. Please also try Insider Screener module to find insiders across different sectors to evaluate their impact on performance.


 
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