Pair Correlation Between Caterpillar and Cummins

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

Caterpillar Inc  vs.  Cummins Inc

 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  0.00  in Cummins on March 23, 2018 and sell it today you would earn a total of  0.00  from holding Cummins or generate 0.0% return on investment over 30 days.

Pair Corralation between Caterpillar and Cummins

0.0
Time Period2 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Pay attention

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

Comparative Volatility

Caterpillar  
0 

Risk-Adjusted Performance

Over the last 30 days Caterpillar has generated negative risk-adjusted returns adding no value to investors with long positions.
Cummins  
0 

Risk-Adjusted Performance

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

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Fama & French Classification
RegionNorth America
ExchangeNASDAQ
$17.15

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See also your portfolio center. Please also try Transaction History module to view history of all your transactions and understand their impact on performance.