Correlation Between Ayima Group and Dow Jones
Specify exactly 2 symbols:
By analyzing existing cross correlation between Ayima Group AB and Dow Jones Industrial, you can compare the effects of market volatilities on Ayima Group and Dow Jones 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 Ayima Group with a short position of Dow Jones. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ayima Group and Dow Jones.
Diversification Opportunities for Ayima Group and Dow Jones
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Ayima and Dow is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Ayima Group AB and Dow Jones Industrial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dow Jones Industrial and Ayima 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 Ayima Group AB are associated (or correlated) with Dow Jones. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dow Jones Industrial has no effect on the direction of Ayima Group i.e., Ayima Group and Dow Jones go up and down completely randomly.
Pair Corralation between Ayima Group and Dow Jones
Assuming the 90 days trading horizon Ayima Group is expected to generate 3.05 times less return on investment than Dow Jones. In addition to that, Ayima Group is 4.18 times more volatile than Dow Jones Industrial. It trades about 0.01 of its total potential returns per unit of risk. Dow Jones Industrial is currently generating about 0.14 per unit of volatility. If you would invest 3,885,227 in Dow Jones Industrial on September 3, 2024 and sell it today you would earn a total of 605,838 from holding Dow Jones Industrial or generate 15.59% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 98.65% |
| Values | Daily Returns |
Ayima Group AB vs. Dow Jones Industrial
Performance |
| Timeline |
Ayima Group and Dow Jones Volatility Contrast
Predicted Return Density |
| Returns |
Ayima Group AB
Pair trading matchups for Ayima Group
Dow Jones Industrial
Pair trading matchups for Dow Jones
Pair Trading with Ayima Group and Dow Jones
The main advantage of trading using opposite Ayima Group and Dow Jones positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ayima Group position performs unexpectedly, Dow Jones 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 Dow Jones will offset losses from the drop in Dow Jones' long position.| Ayima Group vs. Absolent Group AB | Ayima Group vs. Adventure Box Technology | Ayima Group vs. Enorama Pharma AB | Ayima Group vs. ALM Equity AB |
| Dow Jones vs. Eastern Co | Dow Jones vs. Uber Technologies | Dow Jones vs. AKITA Drilling | Dow Jones vs. Chemours Co |
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 AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.
Other Complementary Tools
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins | |
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets |