Correlation Analysis Between DXP Enterprises and Adams Resources

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

DXP Enterprises Inc  vs.  Adams Resources Energy Inc

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, DXP Enterprises is expected to generate 1.15 times more return on investment than Adams Resources. However, DXP Enterprises is 1.15 times more volatile than Adams Resources Energy. It trades about 0.2 of its potential returns per unit of risk. Adams Resources Energy is currently generating about -0.01 per unit of risk. If you would invest  3,953  in DXP Enterprises on June 22, 2018 and sell it today you would earn a total of  311.00  from holding DXP Enterprises or generate 7.87% return on investment over 30 days.

Pair Corralation between DXP Enterprises and Adams Resources

-0.81
Time Period1 Month [change]
DirectionNegative 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Pay attention

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

Comparative Volatility

 Predicted Return Density 
      Returns 
DXP Enterprises  
13 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in DXP Enterprises are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.
Adams Resources Energy  
0 

Risk-Adjusted Performance

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

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Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1186.96

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