Pair Correlation Between Verint Systems and Altaba

This module allows you to analyze existing cross correlation between Verint Systems Inc and Altaba Inc. You can compare the effects of market volatilities on Verint Systems and Altaba 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 Verint Systems with a short position of Altaba. See also your portfolio center. Please also check ongoing floating volatility patterns of Verint Systems and Altaba.
Investment Horizon     30 Days    Login   to change
Symbolsvs
 Verint Systems Inc  vs   Altaba Inc.
 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Verint Systems Inc is expected to under-perform the Altaba. In addition to that, Verint Systems is 1.08 times more volatile than Altaba Inc. It trades about -0.01 of its total potential returns per unit of risk. Altaba Inc is currently generating about 0.29 per unit of volatility. If you would invest  6,651  in Altaba Inc on October 23, 2017 and sell it today you would earn a total of  544  from holding Altaba Inc or generate 8.18% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Verint Systems and Altaba
-0.52

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthVery Weak
Accuracy95.65%
ValuesDaily Returns

Diversification

Excellent diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Verint Systems Inc

  
0 

Risk-Adjusted Performance

Over the last 30 days Verint Systems Inc has generated negative risk-adjusted returns adding no value to investors with long positions.

Altaba Inc

  
19 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Altaba Inc are ranked lower than 19 (%) of all global equities and portfolios over the last 30 days.