Correlation Analysis Between Ford Motor and Macys

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

Ford Motor Company  vs.  Macys Inc

 Performance (%) 
      Timeline 

Pair Volatility

Taking into account the 30 trading days horizon, Ford Motor is expected to generate 3.82 times less return on investment than Macys. But when comparing it to its historical volatility, Ford Motor Company is 3.25 times less risky than Macys. It trades about 0.2 of its potential returns per unit of risk. Macys is currently generating about 0.24 of returns per unit of risk over similar time horizon. If you would invest  3,461  in Macys on May 21, 2018 and sell it today you would earn a total of  476.00  from holding Macys or generate 13.75% return on investment over 30 days.

Pair Corralation between Ford Motor and Macys

0.93
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

Almost no diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Ford Motor  
13 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Ford Motor Company are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.
Macys  
15 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Macys are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.

My Equities

My Current Equities and Potential Positions
View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1169.84

Thematic Opportunities

Explore Investment Opportunities
Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Price Transformation module to use price transformation models to analyze depth of different equity instruments across global markets.