This module allows you to analyze existing cross correlation between The Home Depot Inc and Sprint Corporation. You can compare the effects of market volatilities on Home Depot and Sprint 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 Home Depot with a short position of Sprint. See also your portfolio center
. Please also check ongoing floating volatility patterns of Home Depot
The Home Depot Inc vs Sprint Corp.
If you would invest 20,299 in The Home Depot Inc on December 23, 2017 and sell it today you would earn a total of 0.00 from holding The Home Depot Inc or generate 0.0% return on investment over 30 days.
|Time Period||1 Month [change]|
Overlapping area represents the amount of risk that can be diversified away by holding The Home Depot Inc and Sprint Corp. in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Sprint and Home Depot 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 The Home Depot Inc are associated (or correlated) with Sprint. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sprint has no effect on the direction of Home Depot i.e. Home Depot and Sprint go up and down completely randomly.
Over the last 30 days Sprint Corporation has generated negative risk-adjusted returns adding no value to investors with long positions.