Correlation Between Visa and 58 Com

Analyzing existing cross correlation between Visa and 58 Com. You can compare the effects of market volatilities on Visa and 58 Com 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 Visa with a short position of 58 Com. Check out your portfolio center. Please also check ongoing floating volatility patterns of Visa and 58 Com.

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Diversification Opportunities for Visa and 58 Com

Visa Inc diversification synergy
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<div class='circular--portrait-small' style='background:#FF9E01;color: white;font-size:1.6em;padding-top: 6px;;'>58</div>

Significant diversification

The 3 months correlation between Visa and WUBA is 0.04. Overlapping area represents the amount of risk that can be diversified away by holding Visa Inc and 58 Com Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on 58 Com and Visa 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 Visa are associated (or correlated) with 58 Com. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 58 Com has no effect on the direction of Visa i.e. Visa and 58 Com go up and down completely randomly.

Pair Corralation between Visa and 58 Com

Taking into account the 30 trading days horizon, Visa is expected to generate 0.42 times more return on investment than 58 Com. However, Visa is 2.4 times less risky than 58 Com. It trades about 0.25 of its potential returns per unit of risk. 58 Com is currently generating about -0.02 per unit of risk. If you would invest  18,097  in Visa on January 22, 2020 and sell it today you would earn a total of  3,048  from holding Visa or generate 16.84% return on investment over 30 days.
Time Period3 Months [change]
DirectionMoves Together 
ValuesDaily Returns

Visa Inc  vs.  58 Com Inc

 Performance (%) 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Visa are ranked lower than 17 (%) of all global equities and portfolios over the last 30 days. Inspite fairly abnormal primary indicators, Visa showed solid returns over the last few months and may actually be approaching a breakup point.
58 Com 

Risk-Adjusted Performance

Over the last 30 days 58 Com has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, 58 Com is not utilizing all of its potentials. The continuing stock price disturbance, may contribute to short term losses for the investors.

Visa and 58 Com Volatility Contrast

 Predicted Return Density 
Check out your portfolio center. Please also try Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.