Pair Correlation Between Fossil and Dollar General

This module allows you to analyze existing cross correlation between Fossil Group Inc 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 Inc is expected to generate 10.97 times more return on investment than Dollar General. However, Fossil is 10.97 times more volatile than Dollar General Corporation. It trades about 0.16 of its potential returns per unit of risk. Dollar General Corporation is currently generating about -0.15 per unit of risk. If you would invest  947.00  in Fossil Group Inc on January 21, 2018 and sell it today you would earn a total of  447.00  from holding Fossil Group Inc or generate 47.2% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Fossil and Dollar General
-0.1

Parameters

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

Diversification

Good 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 Inc 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 Inc

  
10 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Fossil Group Inc are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.

Dollar General

  
0 

Risk-Adjusted Performance

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