This module allows you to analyze existing cross correlation between The Bank of New York Mellon Corporation and Altaba. You can compare the effects of market volatilities on Bank of New York and Altaba 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 Bank of New York with a short position of Altaba. See also your portfolio center. Please also check ongoing floating volatility patterns of Bank of New York and Altaba.
|Horizon||30 Days Login to change|
|Bank of New York|
Over the last 30 days The Bank of New York Mellon Corporation has generated negative risk-adjusted returns adding no value to investors with long positions. Regardless of sluggish performance in the last few months, the Stock's technical and fundamental indicators remain fairly consistent which may send shares a bit higher in July 2019. The prevailing confusion may also be a sign of long-lasting up-swing for the organization traders.
Over the last 30 days Altaba has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, Altaba is not utilizing all of its potentials. The prevailing stock price disturbance, may contribute to short term losses for the investors.
Bank of New York and Altaba Volatility Contrast
The Bank of New York Mellon Co vs. Altaba Inc
If you would invest (100.00) in Altaba on May 20, 2019 and sell it today you would earn a total of 100.00 from holding Altaba or generate -100.0% return on investment over 30 days.
Pair Corralation between Bank of New York and Altaba
|Time Period||2 Months [change]|
Diversification Opportunities for Bank of New York and Altaba
Overlapping area represents the amount of risk that can be diversified away by holding The Bank of New York Mellon Co and Altaba Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Altaba and Bank of New York 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 The Bank of New York Mellon Corporation are associated (or correlated) with Altaba. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Altaba has no effect on the direction of Bank of New York i.e. Bank of New York and Altaba go up and down completely randomly.
See also your portfolio center. Please also try Piotroski F Score module to get piotroski f score based on binary analysis strategy of nine different fundamentals.