Correlation Analysis Between Brunswick and Foot Locker

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

Brunswick Corp.  vs.  Foot Locker Inc

 Performance (%) 
      Timeline 

Pair Volatility

Allowing for the 30-days total investment horizon, Brunswick Corporation is expected to generate 1.23 times more return on investment than Foot Locker. However, Brunswick is 1.23 times more volatile than Foot Locker. It trades about -0.01 of its potential returns per unit of risk. Foot Locker is currently generating about -0.19 per unit of risk. If you would invest  6,798  in Brunswick Corporation on June 16, 2018 and sell it today you would lose (42.00)  from holding Brunswick Corporation or give up 0.62% of portfolio value over 30 days.

Pair Corralation between Brunswick and Foot Locker

0.28
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Modest diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Brunswick  
0 

Risk-Adjusted Performance

Over the last 30 days Brunswick Corporation has generated negative risk-adjusted returns adding no value to investors with long positions.
Foot Locker  
0 

Risk-Adjusted Performance

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

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1188.82

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