Correlation Analysis Between DENTSPLY SIRONA and DexCom

This module allows you to analyze existing cross correlation between DENTSPLY SIRONA and DexCom. You can compare the effects of market volatilities on DENTSPLY SIRONA and DexCom 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 DENTSPLY SIRONA with a short position of DexCom. See also your portfolio center. Please also check ongoing floating volatility patterns of DENTSPLY SIRONA and DexCom.
Horizon     30 Days    Login   to change

DENTSPLY SIRONA Inc  vs.  DexCom Inc

 Performance (%) 

Pair Volatility

Given the investment horizon of 30 days, DENTSPLY SIRONA is expected to generate 0.49 times more return on investment than DexCom. However, DENTSPLY SIRONA is 2.05 times less risky than DexCom. It trades about -0.14 of its potential returns per unit of risk. DexCom is currently generating about -0.2 per unit of risk. If you would invest  3,809  in DENTSPLY SIRONA on September 22, 2018 and sell it today you would lose (181.00)  from holding DENTSPLY SIRONA or give up 4.75% of portfolio value over 30 days.

Pair Corralation between DENTSPLY SIRONA and DexCom

Time Period1 Month [change]
ValuesDaily Returns


Poor diversification

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

Comparative Volatility

 Predicted Return Density 

Risk-Adjusted Performance

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

Risk-Adjusted Performance

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

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