Correlation Analysis Between A10 Networks and Five9

This module allows you to analyze existing cross correlation between A10 Networks and Five9. You can compare the effects of market volatilities on A10 Networks and Five9 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 A10 Networks with a short position of Five9. See also your portfolio center. Please also check ongoing floating volatility patterns of A10 Networks and Five9.
Horizon     30 Days    Login   to change
Symbolsvs
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Comparative Performance

A10 Networks  
66

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in A10 Networks are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days. Allthough quite sluggish forward indicators, A10 Networks may actually be approaching a critical reversion point that can send shares even higher in September 2019.
Five9  
88

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Five9 are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days. Allthough quite weak forward indicators, Five9 disclosed solid returns over the last few months and may actually be approaching a breakup point.

A10 Networks and Five9 Volatility Contrast

 Predicted Return Density 
      Returns 

A10 Networks Inc  vs.  Five9 Inc

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, A10 Networks is expected to generate 2.5 times less return on investment than Five9. But when comparing it to its historical volatility, A10 Networks is 2.13 times less risky than Five9. It trades about 0.1 of its potential returns per unit of risk. Five9 is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest  5,287  in Five9 on July 21, 2019 and sell it today you would earn a total of  941.00  from holding Five9 or generate 17.8% return on investment over 30 days.

Pair Corralation between A10 Networks and Five9

-0.3
Time Period2 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy97.67%
ValuesDaily Returns

Diversification Opportunities for A10 Networks and Five9

A10 Networks Inc diversification synergy

Very good diversification

Overlapping area represents the amount of risk that can be diversified away by holding A10 Networks Inc and Five9 Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Five9 and A10 Networks 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 A10 Networks are associated (or correlated) with Five9. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Five9 has no effect on the direction of A10 Networks i.e. A10 Networks and Five9 go up and down completely randomly.
See also your portfolio center. Please also try Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.


 
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