This module allows you to analyze existing cross correlation between Curtiss Wright Corporation and Agilent Technologies Inc. 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
Curtiss Wright Corp. vs Agilent Technologies Inc
Allowing for the 30-days total investment horizon, Curtiss Wright Corporation is expected to generate 1.2 times more return on investment than Agilent Technologies. However, Curtiss Wright is 1.2 times more volatile than Agilent Technologies Inc. It trades about -0.04 of its potential returns per unit of risk. Agilent Technologies Inc is currently generating about -0.24 per unit of risk. If you would invest 13,591 in Curtiss Wright Corporation on February 22, 2018 and sell it today you would lose (213.00) from holding Curtiss Wright Corporation or give up 1.57% of portfolio value over 30 days.
|Time Period||1 Month [change]|
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 Inc 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 Inc has no effect on the direction of Curtiss Wright i.e. Curtiss Wright and Agilent Technologies go up and down completely randomly.
Over the last 30 days Curtiss Wright Corporation has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days Agilent Technologies Inc has generated negative risk-adjusted returns adding no value to investors with long positions.