Correlation Analysis Between DHI and Hirequest

Analyzing existing cross correlation between DHI Group and Hirequest. You can compare the effects of market volatilities on DHI and Hirequest 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 DHI with a short position of Hirequest. See also your portfolio center. Please also check ongoing floating volatility patterns of DHI and Hirequest.
Horizon     30 Days    Login   to change
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Comparative Performance

DHI Group  
00

Risk-Adjusted Performance

Over the last 30 days DHI Group has generated negative risk-adjusted returns adding no value to investors with long positions. Inspite latest weak performance, the Stock's basic indicators remain strong and the current disturbance on Wall Street may also be a sign of long term gains for the company investors.
Hirequest  
22

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Hirequest are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days. Despite nearly weak fundamental indicators, Hirequest may actually be approaching a critical reversion point that can send shares even higher in February 2020.

DHI and Hirequest Volatility Contrast

 Predicted Return Density 
    
  Returns 

DHI Group Inc  vs.  Hirequest

 Performance (%) 
    
  Timeline 

Pair Volatility

Considering 30-days investment horizon, DHI Group is expected to under-perform the Hirequest. But the stock apears to be less risky and, when comparing its historical volatility, DHI Group is 1.08 times less risky than Hirequest. The stock trades about -0.05 of its potential returns per unit of risk. The Hirequest is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest  649.00  in Hirequest on December 18, 2019 and sell it today you would earn a total of  43.00  from holding Hirequest or generate 6.63% return on investment over 30 days.

Pair Corralation between DHI and Hirequest

-0.62
Time Period3 Months [change]
DirectionNegative 
StrengthWeak
Accuracy79.49%
ValuesDaily Returns

Diversification Opportunities for DHI and Hirequest

DHI Group Inc diversification synergy

Excellent diversification

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