Correlation Analysis Between Curtiss Wright and Agilent Technologies

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

Curtiss Wright Corp.  vs.  Agilent Technologies Inc

 Performance (%) 
      Timeline 

Pair Volatility

Allowing for the 30-days total investment horizon, Curtiss Wright Corporation is expected to generate 1.15 times more return on investment than Agilent Technologies. However, Curtiss Wright is 1.15 times more volatile than Agilent Technologies. It trades about 0.17 of its potential returns per unit of risk. Agilent Technologies is currently generating about 0.08 per unit of risk. If you would invest  12,039  in Curtiss Wright Corporation on June 20, 2018 and sell it today you would earn a total of  541.00  from holding Curtiss Wright Corporation or generate 4.49% return on investment over 30 days.

Pair Corralation between Curtiss Wright and Agilent Technologies

0.69
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Curtiss Wright  
11 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Curtiss Wright Corporation are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.
Agilent Technologies  
5 

Risk-Adjusted Performance

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

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1184.91

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