This module allows you to analyze existing cross correlation between Fossil Group Inc and The Home Depot Inc. You can compare the effects of market volatilities on Fossil and Home Depot 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 Home Depot. See also your portfolio center
. Please also check ongoing floating volatility patterns of Fossil
and Home Depot
Fossil Group Inc vs The Home Depot Inc
If you would invest 902 in Fossil Group Inc on September 18, 2017 and sell it today you would lose (4) from holding Fossil Group Inc or give up 0.44% of portfolio value over 30 days.
|Time Period||1 Month [change]|
Overlapping area represents the amount of risk that can be diversified away by holding Fossil Group Inc and The Home Depot Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on The Home Depot 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 Home Depot. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of The Home Depot has no effect on the direction of Fossil i.e. Fossil and Home Depot go up and down completely randomly.
Over the last 30 days Fossil Group Inc has generated negative risk-adjusted returns adding no value to investors with long positions.