This module allows you to analyze existing cross correlation between Workiva and CDK Global. You can compare the effects of market volatilities on Workiva and CDK Global 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 Workiva with a short position of CDK Global. See also your portfolio center. Please also check ongoing floating volatility patterns of Workiva and CDK Global.
|Horizon||30 Days Login to change|
Over the last 30 days Workiva has generated negative risk-adjusted returns adding no value to investors with long positions. Regardless of fairly consistent technical and fundamental indicators, Workiva is not utilizing all of its potentials. The recent stock price confusion, may contribute to short-horizon losses for the traders.
Over the last 30 days CDK Global has generated negative risk-adjusted returns adding no value to investors with long positions. Regardless of fairly consistent technical and fundamental indicators, CDK Global is not utilizing all of its potentials. The current stock price confusion, may contribute to short-horizon losses for the traders.
Workiva and CDK Global Volatility Contrast
Predicted Return Density
Workiva Inc vs. CDK Global Inc
If you would invest (100.00) in Workiva on September 17, 2019 and sell it today you would earn a total of 100.00 from holding Workiva or generate -100.0% return on investment over 30 days.
Pair Corralation between Workiva and CDK Global
|Time Period||3 Months [change]|
Diversification Opportunities for Workiva and CDK Global
Overlapping area represents the amount of risk that can be diversified away by holding Workiva Inc and CDK Global Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on CDK Global and Workiva 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 Workiva are associated (or correlated) with CDK Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CDK Global has no effect on the direction of Workiva i.e. Workiva and CDK Global go up and down completely randomly.
See also your portfolio center. Please also try CEO Directory module to screen ceos from public companies around the world.