Correlation Analysis Between DOW and Target

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

DOW  vs.  Target Corp.

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, DOW is expected to generate 0.55 times more return on investment than Target. However, DOW is 1.82 times less risky than Target. It trades about -0.07 of its potential returns per unit of risk. Target Corporation is currently generating about -0.22 per unit of risk. If you would invest  2,505,283  in DOW on November 10, 2018 and sell it today you would lose (110,329)  from holding DOW or give up 4.4% of portfolio value over 30 days.

Pair Corralation between DOW and Target

0.55
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

DOW diversification synergy

Very weak diversification

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

 Predicted Return Density 
      Returns 

My Equities

My Current Equities and Potential Positions

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TGT - USA Stock
Target Corporation
Specialization
Consumer, Diversified Wholesale And Retail
RegionNorth America
ExchangeNew York Stock Exchange
$67.78

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See also your portfolio center. Please also try Fundamentals Matrix module to view fundamentals matrix and analyze how accounts are interrelated and interconnected with each other.


 
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