Correlation Analysis Between ATT and Zayo Group

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

ATT  
1717

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in ATT are ranked lower than 17 (%) of all global equities and portfolios over the last 30 days. In spite of comparatively uncertain essential indicators, ATT unveiled solid returns over the last few months and may actually be approaching a breakup point.
Zayo Group Holdings  
1212

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Zayo Group Holdings are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days. Allthough quite persistent forward indicators, Zayo Group is not utilizing all of its potentials. The late stock price mess, may contribute to short term losses for the partners.

ATT and Zayo Group Volatility Contrast

 Predicted Return Density 
      Returns 

ATT Inc  vs.  Zayo Group Holdings Inc

 Performance (%) 
      Timeline 

Pair Volatility

Taking into account the 30 trading days horizon, ATT is expected to generate 5.66 times more return on investment than Zayo Group. However, ATT is 5.66 times more volatile than Zayo Group Holdings. It trades about 0.25 of its potential returns per unit of risk. Zayo Group Holdings is currently generating about 0.19 per unit of risk. If you would invest  3,213  in ATT on September 20, 2019 and sell it today you would earn a total of  634.00  from holding ATT or generate 19.73% return on investment over 30 days.

Pair Corralation between ATT and Zayo Group

0.79
Time Period3 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for ATT and Zayo Group

ATT Inc diversification synergy

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding ATT Inc and Zayo Group Holdings Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Zayo Group Holdings and ATT 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 ATT are associated (or correlated) with Zayo Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Zayo Group Holdings has no effect on the direction of ATT i.e. ATT and Zayo Group go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.


 
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