Correlation Analysis Between Fossil and Dollar General

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

Fossil Group Inc  vs.  Dollar General Corp.

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Fossil Group is expected to generate 1.25 times more return on investment than Dollar General. However, Fossil is 1.25 times more volatile than Dollar General Corporation. It trades about 0.65 of its potential returns per unit of risk. Dollar General Corporation is currently generating about 0.04 per unit of risk. If you would invest  1,951  in Fossil Group on May 22, 2018 and sell it today you would earn a total of  974.00  from holding Fossil Group or generate 49.92% return on investment over 30 days.

Pair Corralation between Fossil and Dollar General

0.15
Time Period1 Month [change]
DirectionPositive 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Average diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Fossil Group  
42 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Fossil Group are ranked lower than 42 (%) of all global equities and portfolios over the last 30 days.
Dollar General  
2 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Dollar General Corporation are ranked lower than 2 (%) 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
$1172.0

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See also your portfolio center. Please also try Chance of Distress module to get analysis of equity chance of financial distress in the next 2 years.