Correlation Analysis Between Altaba and Exxon

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

Comparative Performance

Altaba  
00

Risk-Adjusted Performance

Over the last 30 days Altaba has generated negative risk-adjusted returns adding no value to investors with long positions. Despite unfluctuating performance in the last few months, the Stock's basic indicators remain somewhat strong which may send shares a bit higher in November 2019. The current disturbance may also be a sign of long term up-swing for the company investors.
Exxon Mobil  
00

Risk-Adjusted Performance

Over the last 30 days Exxon Mobil Corporation has generated negative risk-adjusted returns adding no value to investors with long positions. Even with latest sluggish performance, the Stock's technical indicators remain steady and the new chaos on Wall Street may also be a sign of medium term gains for the business stakeholders.

Altaba and Exxon Volatility Contrast

 Predicted Return Density 
      Returns 

Altaba Inc  vs.  Exxon Mobil Corp.

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Altaba is expected to under-perform the Exxon. In addition to that, Altaba is 7.14 times more volatile than Exxon Mobil Corporation. It trades about -0.12 of its total potential returns per unit of risk. Exxon Mobil Corporation is currently generating about -0.08 per unit of volatility. If you would invest  7,408  in Exxon Mobil Corporation on September 14, 2019 and sell it today you would lose (531.00)  from holding Exxon Mobil Corporation or give up 7.17% of portfolio value over 30 days.

Pair Corralation between Altaba and Exxon

0.37
Time Period3 Months [change]
DirectionPositive 
StrengthVery Weak
Accuracy96.92%
ValuesDaily Returns

Diversification Opportunities for Altaba and Exxon

Altaba Inc diversification synergy

Weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Altaba Inc and Exxon Mobil Corp. in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Exxon Mobil and Altaba 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 Altaba are associated (or correlated) with Exxon. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Exxon Mobil has no effect on the direction of Altaba i.e. Altaba and Exxon go up and down completely randomly.
See also your portfolio center. Please also try Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.


 
Search macroaxis.com