Correlation Between 58 and Vantiv

Specify exactly 2 symbols:
Can any of the company-specific risk be diversified away by investing in both 58 and Vantiv at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining 58 and Vantiv into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between 58 Inc and Vantiv Inc, you can compare the effects of market volatilities on 58 and Vantiv 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 with a short position of Vantiv. Check out your portfolio center. Please also check ongoing floating volatility patterns of 58 and Vantiv.

Diversification Opportunities for 58 and Vantiv

0.0
  Correlation Coefficient

Pay attention - limited upside

The 3 months correlation between 58 and Vantiv is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding 58 Inc and Vantiv Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Vantiv Inc and 58 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 Inc are associated (or correlated) with Vantiv. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Vantiv Inc has no effect on the direction of 58 i.e., 58 and Vantiv go up and down completely randomly.

Pair Corralation between 58 and Vantiv

If you would invest (100.00) in Vantiv Inc on December 29, 2023 and sell it today you would earn a total of  100.00  from holding Vantiv Inc or generate -100.0% return on investment over 90 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

58 Inc  vs.  Vantiv Inc

 Performance 
       Timeline  
58 Inc 

Risk-Adjusted Performance

0 of 100

 
Low
 
High
Very Weak
Over the last 90 days 58 Inc has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong fundamental drivers, 58 is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.
Vantiv Inc 

Risk-Adjusted Performance

0 of 100

 
Low
 
High
Very Weak
Over the last 90 days Vantiv Inc has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fairly stable basic indicators, Vantiv is not utilizing all of its potentials. The current stock price fuss, may contribute to near-short-term losses for the sophisticated investors.

58 and Vantiv Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with 58 and Vantiv

The main advantage of trading using opposite 58 and Vantiv positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 58 position performs unexpectedly, Vantiv can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Vantiv will offset losses from the drop in Vantiv's long position.
The idea behind 58 Inc and Vantiv Inc pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
Check out your portfolio center.
Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.

Other Complementary Tools

Portfolio Diagnostics
Use generated alerts and portfolio events aggregator to diagnose current holdings
Portfolio Backtesting
Avoid under-diversification and over-optimization by backtesting your portfolios
Watchlist Optimization
Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm
Money Flow Index
Determine momentum by analyzing Money Flow Index and other technical indicators
Volatility Analysis
Get historical volatility and risk analysis based on latest market data
Portfolio Suggestion
Get suggestions outside of your existing asset allocation including your own model portfolios
Positions Ratings
Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance
Money Managers
Screen money managers from public funds and ETFs managed around the world
Portfolio Analyzer
Portfolio analysis module that provides access to portfolio diagnostics and optimization engine
Options Analysis
Analyze and evaluate options and option chains as a potential hedge for your portfolios
Latest Portfolios
Quick portfolio dashboard that showcases your latest portfolios
Bond Analysis
Evaluate and analyze corporate bonds as a potential investment for your portfolios.