Correlation Analysis Between Fossil and Aarons

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

Fossil Group Inc  vs.  Aarons Inc

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Fossil Group is expected to generate 2.48 times more return on investment than Aarons. However, Fossil is 2.48 times more volatile than Aarons. It trades about 0.69 of its potential returns per unit of risk. Aarons is currently generating about 0.41 per unit of risk. If you would invest  2,052  in Fossil Group on May 25, 2018 and sell it today you would earn a total of  1,048  from holding Fossil Group or generate 51.07% return on investment over 30 days.

Pair Corralation between Fossil and Aarons

0.74
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Fossil Group  
45 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Fossil Group are ranked lower than 45 (%) of all global equities and portfolios over the last 30 days.
Aarons  
27 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Aarons are ranked lower than 27 (%) of all global equities and portfolios over the last 30 days.

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1155.48

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