Benchmark  United States  NYSE  10,825   16.5635  -0.1528% 


Processing
Collecting data for HES and TOT ...

Correlation analysis between Hess and Total

    
  
Summary
Performance
FundamentalsTechnicalsRecomendation
   Valuation
   Backtest
   Forecast
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. But the stock apears to be less risky and, when comparing its historical volatility, Hess Corporation is 1.08 times less risky than Total. The stock trades about -0.34 of its potential returns per unit of risk. The Total SA is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest  4,724  in Total SA on July 6, 2015 and sell it today you would earn a total of  142.00  from holding Total SA or generate 3.01% return on investment over 30 days.

Correlation Coefficient

0.52

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

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

ConocoPhillips vs. Hess Corporation
Occidental Petroleum Corporation vs. Hess Corporation
Devon Energy Corporation 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 6 (%) of all global equities and portfolios over the last 30 days.

Pair trading matchups for Total

Exxon Mobil Corporation vs. Total SA
PetroChina Co Ltd vs. Total SA
Eni SpA vs. Total SA
Imperial Oil Ltd vs. Total SA