Correlation Between DigiMax Global and Dmg Blockchain

Can any of the company-specific risk be diversified away by investing in both DigiMax Global and Dmg Blockchain 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 DigiMax Global and Dmg Blockchain into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between DigiMax Global and Dmg Blockchain Solutions, you can compare the effects of market volatilities on DigiMax Global and Dmg Blockchain 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 DigiMax Global with a short position of Dmg Blockchain. Check out your portfolio center. Please also check ongoing floating volatility patterns of DigiMax Global and Dmg Blockchain.

Diversification Opportunities for DigiMax Global and Dmg Blockchain

-0.77

Correlation Coefficient

DigiMax Global  Dmg Blockchain

Pay attention - limited upside

The 3 months correlation between DigiMax and Dmg is -0.77. Overlapping area represents the amount of risk that can be diversified away by holding DigiMax Global and Dmg Blockchain Solutions in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dmg Blockchain Solutions and DigiMax Global 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 DigiMax Global are associated (or correlated) with Dmg Blockchain. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dmg Blockchain Solutions has no effect on the direction of DigiMax Global i.e., DigiMax Global and Dmg Blockchain go up and down completely randomly.

Pair Corralation between DigiMax Global and Dmg Blockchain

Assuming the 90 days horizon DigiMax Global is expected to under-perform the Dmg Blockchain. In addition to that, DigiMax Global is 1.44 times more volatile than Dmg Blockchain Solutions. It trades about -0.12 of its total potential returns per unit of risk. Dmg Blockchain Solutions is currently generating about 0.14 per unit of volatility. If you would invest  22.00  in Dmg Blockchain Solutions on July 29, 2025 and sell it today you would earn a total of  15.00  from holding Dmg Blockchain Solutions or generate 68.18% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Weak
Accuracy	98.46%
Values	Daily Returns

DigiMax Global  vs.  Dmg Blockchain Solutions

DigiMax Global

Risk-Adjusted Performance

Weakest

Over the last 90 days DigiMax Global has generated negative risk-adjusted returns adding no value to investors with long positions. Despite fragile performance in the last few months, the Stock's basic indicators remain nearly stable which may send shares a bit higher in November 2025. The current disturbance may also be a sign of long-run up-swing for the company stockholders.

Dmg Blockchain Solutions

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Dmg Blockchain Solutions are ranked lower than 11 (%) of all global equities and portfolios over the last 90 days. Despite nearly uncertain technical and fundamental indicators, Dmg Blockchain reported solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with DigiMax Global and Dmg Blockchain

The main advantage of trading using opposite DigiMax Global and Dmg Blockchain positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if DigiMax Global position performs unexpectedly, Dmg Blockchain 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 Dmg Blockchain will offset losses from the drop in Dmg Blockchain's long position.

The idea behind DigiMax Global and Dmg Blockchain Solutions 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.

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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.