Correlation Between Unisys and DigiMax Global

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

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

Diversification Opportunities for Unisys and DigiMax Global

0.0

Correlation Coefficient

Unisys  DigiMax Global

Pay attention - limited upside

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

Pair Corralation between Unisys and DigiMax Global

If you would invest  0.00  in DigiMax Global on August 26, 2025 and sell it today you would earn a total of  0.00  from holding DigiMax Global or generate 0.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	1.56%
Values	Daily Returns

Unisys  vs.  DigiMax Global

Unisys

Risk-Adjusted Performance

Weakest

Over the last 90 days Unisys has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Stock's forward indicators remain comparatively stable which may send shares a bit higher in December 2025. The newest uproar may also be a sign of mid-term up-swing for the firm private investors.

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 nearly stable basic indicators, DigiMax Global is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholders.

Pair Trading with Unisys and DigiMax Global

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

The idea behind Unisys and DigiMax Global 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.

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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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.