This module allows you to analyze existing cross correlation between Fossil Group Inc and Macys Inc. You can compare the effects of market volatilities on Fossil and Macys 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 Macys. See also your portfolio center
. Please also check ongoing floating volatility patterns of Fossil
Fossil Group Inc vs Macys Inc
Given the investment horizon of 30 days, Fossil Group Inc is expected to generate 1.67 times more return on investment than Macys. However, Fossil is 1.67 times more volatile than Macys Inc. It trades about 0.0 of its potential returns per unit of risk. Macys Inc is currently generating about -0.17 per unit of risk. If you would invest 900 in Fossil Group Inc on September 20, 2017 and sell it today you would lose (8) from holding Fossil Group Inc or give up 0.89% of portfolio value over 30 days.
|Time Period||1 Month [change]|
Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding Fossil Group Inc and Macys Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Macys Inc 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 Macys. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Macys Inc has no effect on the direction of Fossil i.e. Fossil and Macys 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.
Over the last 30 days Macys Inc has generated negative risk-adjusted returns adding no value to investors with long positions.