Correlation Analysis Between Ford Motor and ATT

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

Ford Motor Company  vs.  ATT

 Performance (%) 
      Timeline 

Pair Volatility

Taking into account the 30 trading days horizon, Ford Motor is expected to generate 1.67 times less return on investment than ATT. In addition to that, Ford Motor is 1.8 times more volatile than ATT. It trades about 0.07 of its total potential returns per unit of risk. ATT is currently generating about 0.2 per unit of volatility. If you would invest  3,268  in ATT on August 24, 2018 and sell it today you would earn a total of  110.00  from holding ATT or generate 3.37% return on investment over 30 days.

Pair Corralation between Ford Motor and ATT

0.01
Time Period1 Month [change]
DirectionPositive 
StrengthInsignificant
Accuracy95.45%
ValuesDaily Returns

Diversification

Significant diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Ford Motor  
4 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Ford Motor Company are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.
ATT  
13 

Risk-Adjusted Performance

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

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ExchangeNASDAQ
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