Correlation Analysis Between American Airlines and T

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

American Airlines Group Inc  vs.  AT&T INC.

 Performance (%) 

Pair Volatility

Considering 30-days investment horizon, American Airlines Group is expected to generate 1.42 times more return on investment than T. However, American Airlines is 1.42 times more volatile than T. It trades about -0.09 of its potential returns per unit of risk. T is currently generating about -0.19 per unit of risk. If you would invest  4,569  in American Airlines Group on April 24, 2018 and sell it today you would lose (221.00)  from holding American Airlines Group or give up 4.84% of portfolio value over 30 days.

Pair Corralation between American Airlines and T

Time Period1 Month [change]
ValuesDaily Returns


Poor diversification

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

Comparative Volatility

 Predicted Return Density 
American Airlines Group  

Risk-Adjusted Performance

Over the last 30 days American Airlines Group has generated negative risk-adjusted returns adding no value to investors with long positions.

Risk-Adjusted Performance

Over the last 30 days T has generated negative risk-adjusted returns adding no value to investors with long positions.

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