Pair Correlation Between American Airlines and Visa

This module allows you to analyze existing cross correlation between American Airlines Group Inc and Visa Inc. You can compare the effects of market volatilities on American Airlines and Visa 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 Visa. See also your portfolio center. Please also check ongoing floating volatility patterns of American Airlines and Visa.
Investment Horizon     30 Days    Login   to change
Symbolsvs
 American Airlines Group Inc  vs   Visa Inc
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  11,025  in Visa Inc on November 15, 2017 and sell it today you would earn a total of  267  from holding Visa Inc or generate 2.42% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between American Airlines and Visa
0.0

Parameters

Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy4.55%
ValuesDaily Returns

Diversification

Pay attention

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

Comparative Volatility

Visa Inc

  
5 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Visa Inc are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days.