Pair Correlation Between Hess and TOTAL S

This module allows you to analyze existing cross correlation between Hess Corporation and TOTAL S A. You can compare the effects of market volatilities on Hess and TOTAL S 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 S. See also your portfolio center. Please also check ongoing floating volatility patterns of Hess and TOTAL S.
 Time Horizon     30 Days    Login   to change
Symbolsvs

Hess Corp.  vs.  TOTAL S A

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, Hess Corporation is expected to generate 2.13 times more return on investment than TOTAL S. However, Hess is 2.13 times more volatile than TOTAL S A. It trades about 0.2 of its potential returns per unit of risk. TOTAL S A is currently generating about 0.16 per unit of risk. If you would invest  4,787  in Hess Corporation on March 25, 2018 and sell it today you would earn a total of  978.00  from holding Hess Corporation or generate 20.43% return on investment over 30 days.

Pair Corralation between Hess and TOTAL S

0.91
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

Almost no diversification

Overlapping area represents the 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. The correlation between historical prices or returns on TOTAL S A and Hess is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Hess Corporation are associated (or correlated) with TOTAL S. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of TOTAL S A has no effect on the direction of Hess i.e. Hess and TOTAL S go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Hess  
13 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Hess Corporation are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.
TOTAL S A  
10 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in TOTAL S A are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1019.98

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See also your portfolio center. Please also try Piotroski F Score module to get piotroski f score based on binary analysis strategy of nine different fundamentals.