Correlation Between International Business and DUNHAM REAL

Specify exactly 2 symbols:
Can any of the company-specific risk be diversified away by investing in both International Business and DUNHAM REAL 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 International Business and DUNHAM REAL into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between International Business Machines and DUNHAM REAL ESTATE, you can compare the effects of market volatilities on International Business and DUNHAM REAL 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 International Business with a short position of DUNHAM REAL. Check out your portfolio center. Please also check ongoing floating volatility patterns of International Business and DUNHAM REAL.

Diversification Opportunities for International Business and DUNHAM REAL

  Correlation Coefficient

Pay attention - limited upside

The 3 months correlation between International and DUNHAM is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding International Business Machine and DUNHAM REAL ESTATE in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on DUNHAM REAL ESTATE and International Business 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 International Business Machines are associated (or correlated) with DUNHAM REAL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DUNHAM REAL ESTATE has no effect on the direction of International Business i.e., International Business and DUNHAM REAL go up and down completely randomly.

Pair Corralation between International Business and DUNHAM REAL

If you would invest  10,888  in International Business Machines on September 7, 2022 and sell it today you would earn a total of  3,862  from holding International Business Machines or generate 35.47% return on investment over 90 days.
Time Period3 Months [change]
ValuesDaily Returns

International Business Machine  vs.  DUNHAM REAL ESTATE

 Performance (%) 
International Business 
International Performance
12 of 100
Compared to the overall equity markets, risk-adjusted returns on investments in International Business Machines are ranked lower than 12 (%) of all global equities and portfolios over the last 90 days. Even with relatively unsteady fundamental drivers, International Business revealed solid returns over the last few months and may actually be approaching a breakup point.

International Price Channel

DUNHAM Performance
0 of 100
Over the last 90 days DUNHAM REAL ESTATE has generated negative risk-adjusted returns adding no value to fund investors. In spite of fairly strong technical and fundamental indicators, DUNHAM REAL is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.

International Business and DUNHAM REAL Volatility Contrast

   Predicted Return Density   

Pair Trading with International Business and DUNHAM REAL

The main advantage of trading using opposite International Business and DUNHAM REAL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if International Business position performs unexpectedly, DUNHAM REAL 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 DUNHAM REAL will offset losses from the drop in DUNHAM REAL's long position.
International Business vs. Pfizer Inc
International Business vs. Dupont De Nemours
International Business vs. Alcoa Corp
International Business vs. The Boeing
The idea behind International Business Machines and DUNHAM REAL ESTATE pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
The effect of pair diversification on risk is to reduce it, but we should note this doesn't apply to all risk types. When we trade pairs against DUNHAM REAL as a counterpart, there is always some inherent risk that will never be diversified away no matter what. This volatility limits the effect of tactical diversification using pair trading. DUNHAM REAL's systematic risk is the inherent uncertainty of the entire market, and therefore cannot be mitigated even by pair-trading it against the equity that is not highly correlated to it. On the other hand, DUNHAM REAL's unsystematic risk describes the types of risk that we can protect against, at least to some degree, by selecting a matching pair that is not perfectly correlated to DUNHAM REAL ESTATE.
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.

Other Complementary Tools

Equity Analysis
Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities
Piotroski F Score
Get Piotroski F Score based on binary analysis strategy of nine different fundamentals
Bond Directory
Find actively traded corporate debentures issued by US companies
Companies Directory
Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals
Portfolio File Import
Quickly import all of your third-party portfolios from your local drive in csv format
Global Markets Map
Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes
Portfolio Diagnostics
Use generated alerts and portfolio events aggregator to diagnose current holdings
Stock Screener
Find equities using custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook.
Crypto Correlations
Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins
Aroon Oscillator
Analyze current equity momentum using Aroon Oscillator and other momentum ratios
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
Global Correlations
Find global opportunities by holding instruments from different markets