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.
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 Company is expected to generate 0.9 times more return on investment than Macys. However, Ford Motor Company is 1.11 times less risky than Macys. It trades about -0.01 of its potential returns per unit of risk. Macys is currently generating about -0.02 per unit of risk. If you would invest  881.00  in Ford Motor Company on November 12, 2018 and sell it today you would lose (17.00)  from holding Ford Motor Company or give up 1.93% of portfolio value over 30 days.

Pair Corralation between Ford Motor and Macys

0.65
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Ford Motor Company diversification synergy

Poor 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  
0

Risk-Adjusted Performance

Over the last 30 days Ford Motor Company has generated negative risk-adjusted returns adding no value to investors with long positions.
Macys  
0

Risk-Adjusted Performance

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

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1063.68

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