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Benchmark  United States  NYSE  10,947   35.499 Index Moved Down -0.32%  


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Collecting data for HES and TOT ...

Correlation analysis between Hess and Total

   
Investment horizon:  
  30 Days    Login   to change
This module allows you to analyze existing cross correlation between Hess Corporation and Total SA. You can compare the effects of market volatilities on Hess and Total 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 Hess with a short position of Total. Please also check ongoing floating volatility patterns of Hess and Total.
 
 Hess Corp.  vs   Total SA
Daily Returns (%)
HES   TOT   
 
Change Benchmark  Embed  Timeline 
Considering 30-days investment horizon, Hess Corporation is expected to generate 0.93 times more return on investment than Total. However, Hess Corporation is 1.08 times less risky than Total. It trades about -0.06 of its potential returns per unit of risk. Total SA is currently generating about -0.29 per unit of risk. If you would invest  10,074  in Hess Corporation on July 24, 2014 and sell it today you would lose (193.00) from holding Hess Corporation or give up 1.92% of portfolio value over 30 days.

Correlation Coefficient

0.4
Parameters
Time Period1 Month [change]
DirectionPositive TOT Moved Up vs HES
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very weak diversification
Overlapping area represents amount of risk that can be diversified away by holding Hess Corp. and Total SA in the same portfolio assuming nothing else is changed
Investing ideals could easily outperform a given market if properly optimized
  
Total Report  
  
Hess Report  

Historical Performance Chart

Comparative Volatility

Predicted Return Density
 
Embed  
Returns:   
HES   TOT   

Hess

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

Pair trading matchups for Hess

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Total SA

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

Pair trading matchups for Total

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Royal Dutch Shell plc vs. Total SA
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