Pair Correlation Between Hess Corporation and TOTAL SA

  
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 Corporation and TOTAL SA 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 Corporation with a short position of TOTAL SA. Please also check ongoing floating volatility patterns of Hess Corporation and TOTAL SA.
 Hess Corp.  vs   TOTAL S.A.
Daily Returns (%)
HES   TOT   
Benchmark  Embed   Timeline 
Considering 30-days investment horizon, Hess Corporation is expected to under-perform the TOTAL SA. In addition to that, Hess Corporation is 1.95 times more volatile than TOTAL SA. It trades about -0.03 of its total potential returns per unit of risk. TOTAL SA is currently generating about 0.03 per unit of volatility. If you would invest  4,081  in TOTAL SA on January 10, 2016 and sell it today you would earn a total of  36.00  from holding TOTAL SA or generate 0.88% return on investment over 30 days.

Correlation Coefficient

0.57

Parameters

Time Period1 Month [change]
DirectionPositive 
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 S.A. in the same portfolio assuming nothing else is changed

Historical Performance Chart

Comparative Volatility

Predicted Return Density  
Benchmark  Embed   Returns 

Hess

  

Risk-adjusted Performance

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 Corporation

  

TOTAL SA

  

Risk-adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in TOTAL SA are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.

Pair trading matchups for TOTAL SA