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Benchmark  United States  NYSE  11,103   40.031 Index Moved Up 0.36%  


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Collecting data for HES and TOT ...

Correlation analysis between Hess and Total 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 generate 0.84 times more return on investment than Total. However, Hess Corporation is 1.19 times less risky than Total. It trades about 0.22 of its potential returns per unit of risk. Total SA is currently generating about -0.05 per unit of risk. If you would invest  7,008  in Hess Corporation on February 1, 2015 and sell it today you would earn a total of  403.00  from holding Hess Corporation or generate 5.75% return on investment over 30 days.

Correlation Coefficient

0.5

Parameters

Time Period1 Month [change]
DirectionPositive TOT Moved Up vs HES
StrengthWeak
Accuracy94.44%
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

  
Compared with the overall equity markets, risk-adjusted returns on investments in Hess Corporation are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.

Pair trading matchups for Hess

Enterprise Products Partners LP vs. Hess Corporation
Occidental Petroleum Corporation vs. Hess Corporation
EOG Resources Inc vs. Hess Corporation
Suncor Energy Inc vs. Hess Corporation
Anadarko Petroleum Corporation 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

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


 

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