Benchmark  United States  NYSE  11,198   41.9775  -0.3735% 


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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   
Benchmark  Embed   Timeline 
Considering 30-days investment horizon, Hess Corporation is expected to under-perform the Total. In addition to that, Hess is 1.14 times more volatile than Total SA. It trades about -0.25 of its total potential returns per unit of risk. Total SA is currently generating about 0.04 per unit of volatility. If you would invest  5,201  in Total SA on April 22, 2015 and sell it today you would earn a total of  49.00  from holding Total SA or generate 0.94% return on investment over 30 days.

Correlation Coefficient

0.6

Parameters

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

Diversification

Poor 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

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

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EOG Resources Inc vs. Hess Corporation
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Suncor Energy Inc vs. Hess Corporation
Canadian Natural Resources Limited vs. Hess Corporation
Devon Energy Corporation vs. Hess Corporation
Apache Corp vs. Hess Corporation
Pioneer Natural Resources Co vs. 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 2 (%) of all global equities and portfolios over the last 30 days.

Pair trading matchups for Total

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BP plc vs. Total SA
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Eni SpA vs. Total SA
Statoil ASA vs. Total SA
Ecopetrol SA vs. Total SA