Correlation Analysis Between 58 Com and Visa

Analyzing existing cross correlation between 58 Com and Visa. You can compare the effects of market volatilities on 58 Com and Visa 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 58 Com with a short position of Visa. See also your portfolio center. Please also check ongoing floating volatility patterns of 58 Com and Visa.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

Comparative Performance

58 Com  
1313

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in 58 Com are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days. Despite somewhat abnormal basic indicators, 58 Com sustained solid returns over the last few months and may actually be approaching a breakup point.
Visa  
2222

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Visa are ranked lower than 22 (%) of all global equities and portfolios over the last 30 days. Inspite fairly weak primary indicators, Visa showed solid returns over the last few months and may actually be approaching a breakup point.

58 Com and Visa Volatility Contrast

 Predicted Return Density 
    
  Returns 

58 Com Inc  vs.  Visa Inc

 Performance (%) 
    
  Timeline 

Pair Volatility

Given the investment horizon of 30 days, 58 Com is expected to generate 3.3 times more return on investment than Visa. However, 58 Com is 3.3 times more volatile than Visa. It trades about 0.19 of its potential returns per unit of risk. Visa is currently generating about 0.34 per unit of risk. If you would invest  5,012  in 58 Com on December 23, 2019 and sell it today you would earn a total of  1,685  from holding 58 Com or generate 33.62% return on investment over 30 days.

Pair Corralation between 58 Com and Visa

0.87
Time Period3 Months [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for 58 Com and Visa

58 Com Inc diversification synergy

Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding 58 Com Inc and Visa Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Visa and 58 Com 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 58 Com are associated (or correlated) with Visa. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Visa has no effect on the direction of 58 Com i.e. 58 Com and Visa go up and down completely randomly.
See also your portfolio center. Please also try Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.