Correlation Analysis Between Zayo Group and ATT

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

Zayo Group Holdings  
1111

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Zayo Group Holdings are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days. Allthough quite persistent forward indicators, Zayo Group is not utilizing all of its potentials. The late stock price mess, may contribute to short term losses for the partners.
ATT  
1616

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in ATT are ranked lower than 16 (%) of all global equities and portfolios over the last 30 days. In spite of comparatively inconsistent essential indicators, ATT unveiled solid returns over the last few months and may actually be approaching a breakup point.

Zayo Group and ATT Volatility Contrast

 Predicted Return Density 
      Returns 

Zayo Group Holdings Inc  vs.  ATT Inc

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Zayo Group is expected to generate 8.41 times less return on investment than ATT. But when comparing it to its historical volatility, Zayo Group Holdings is 5.71 times less risky than ATT. It trades about 0.16 of its potential returns per unit of risk. ATT is currently generating about 0.24 of returns per unit of risk over similar time horizon. If you would invest  3,213  in ATT on September 18, 2019 and sell it today you would earn a total of  590.00  from holding ATT or generate 18.36% return on investment over 30 days.

Pair Corralation between Zayo Group and ATT

0.8
Time Period3 Months [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Zayo Group and ATT

Zayo Group Holdings Inc diversification synergy

Very poor diversification

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