Correlation Analysis Between Agilent Technologies and Twitter

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

Agilent Technologies  
55

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Agilent Technologies are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days. Despite somewhat conflicting basic indicators, Agilent Technologies may actually be approaching a critical reversion point that can send shares even higher in November 2019.
Twitter  
33

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Twitter are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days. In defiance of relatively weak forward-looking signals, Twitter may actually be approaching a critical reversion point that can send shares even higher in November 2019.

Agilent Technologies and Twitter Volatility Contrast

 Predicted Return Density 
      Returns 

Agilent Technologies Inc  vs.  Twitter Inc

 Performance (%) 
      Timeline 

Pair Volatility

Taking into account the 30 trading days horizon, Agilent Technologies is expected to generate 0.76 times more return on investment than Twitter. However, Agilent Technologies is 1.31 times less risky than Twitter. It trades about 0.08 of its potential returns per unit of risk. Twitter is currently generating about 0.05 per unit of risk. If you would invest  6,995  in Agilent Technologies on September 14, 2019 and sell it today you would earn a total of  573.00  from holding Agilent Technologies or generate 8.19% return on investment over 30 days.

Pair Corralation between Agilent Technologies and Twitter

0.39
Time Period3 Months [change]
DirectionPositive 
StrengthVery Weak
Accuracy98.46%
ValuesDaily Returns

Diversification Opportunities for Agilent Technologies and Twitter

Agilent Technologies Inc diversification synergy

Weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Agilent Technologies Inc and Twitter Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Twitter and Agilent Technologies 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 Agilent Technologies are associated (or correlated) with Twitter. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Twitter has no effect on the direction of Agilent Technologies i.e. Agilent Technologies and Twitter go up and down completely randomly.
See also your portfolio center. Please also try Theme Ratings module to determine theme ratings based on digital equity recommendations. macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.


 
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