Correlation Between Walker Dunlop and SHREE GLOBAL

By analyzing existing cross correlation between Walker Dunlop and SHREE GLOBAL TRADEFIN, you can compare the effects of market volatilities on Walker Dunlop and SHREE 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 Walker Dunlop with a short position of SHREE GLOBAL. Check out your portfolio center. Please also check ongoing floating volatility patterns of Walker Dunlop and SHREE GLOBAL.

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Can any of the company-specific risk be diversified away by investing in both Walker Dunlop and SHREE GLOBAL 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 Walker Dunlop and SHREE GLOBAL into the same portfolio, which is an essential part of the fundamental portfolio management process.

Diversification Opportunities for Walker Dunlop and SHREE GLOBAL

-0.61
  Correlation Coefficient
Walker Dunlop
SHREE GLOBAL TRADEFIN

Excellent diversification

The 3 months correlation between Walker and SHREE is -0.61. Overlapping area represents the amount of risk that can be diversified away by holding Walker Dunlop Inc and SHREE GLOBAL TRADEFIN LTD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on SHREE GLOBAL TRADEFIN and Walker Dunlop 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 Walker Dunlop are associated (or correlated) with SHREE GLOBAL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SHREE GLOBAL TRADEFIN has no effect on the direction of Walker Dunlop i.e. Walker Dunlop and SHREE GLOBAL go up and down completely randomly.

Pair Corralation between Walker Dunlop and SHREE GLOBAL

Allowing for the 30-days total investment horizon, Walker Dunlop is expected to generate 4.97 times less return on investment than SHREE GLOBAL. But when comparing it to its historical volatility, Walker Dunlop is 1.63 times less risky than SHREE GLOBAL. It trades about 0.09 of its potential returns per unit of risk. SHREE GLOBAL TRADEFIN is currently generating about 0.28 of returns per unit of risk over similar time horizon. If you would invest  124.00  in SHREE GLOBAL TRADEFIN on June 10, 2020 and sell it today you would earn a total of  54.00  from holding SHREE GLOBAL TRADEFIN or generate 43.55% return on investment over 30 days.
Time Period3 Months [change]
DirectionMoves Against 
StrengthWeak
Accuracy30.16%
ValuesDaily Returns

Walker Dunlop Inc  vs.  SHREE GLOBAL TRADEFIN LTD

 Performance (%) 
      Timeline 
Walker Dunlop 
66

Walker Dunlop Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Walker Dunlop are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days. In spite of rather conflicting fundamental drivers, Walker Dunlop exhibited solid returns over the last few months and may actually be approaching a breakup point.
SHREE GLOBAL TRADEFIN 
00

SHREE GLOBAL Risk-Adjusted Performance

Over the last 30 days SHREE GLOBAL TRADEFIN has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat weak basic indicators, SHREE GLOBAL sustained solid returns over the last few months and may actually be approaching a breakup point.

Walker Dunlop and SHREE GLOBAL Volatility Contrast

 Predicted Return Density 
      Returns 
Check out your portfolio center. Please also try Price Ceiling Movement module to calculate and plot price ceiling movement for different equity instruments.


 
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