Caterpillar Inc vs. Antero Resources Corp.
Considering 30-days investment horizon, Caterpillar is expected to under-perform the Antero Resources. But the stock apears to be less risky and, when comparing its historical volatility, Caterpillar is 1.27 times less risky than Antero Resources. The stock trades about -0.34 of its potential returns per unit of risk. The Antero Resources Corporation is currently generating about 0.13 of returns per unit of risk over similar time horizon. If you would invest 1,931 in Antero Resources Corporation on May 21, 2018 and sell it today you would earn a total of 87.00 from holding Antero Resources Corporation or generate 4.51% return on investment over 30 days.
Pair Corralation between Caterpillar and Antero Resources
|Time Period||1 Month [change]|
Very good diversification
Overlapping area represents the amount of risk that can be diversified away by holding Caterpillar Inc and Antero Resources Corp. in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Antero Resources and Caterpillar 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 Caterpillar are associated (or correlated) with Antero Resources. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Antero Resources has no effect on the direction of Caterpillar i.e. Caterpillar and Antero Resources go up and down completely randomly.
Over the last 30 days Caterpillar has generated negative risk-adjusted returns adding no value to investors with long positions.
Compared to the overall equity markets, risk-adjusted returns on investments in Antero Resources Corporation are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.
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