Correlation Analysis Between COCA COLA and Wells Fargo

This module allows you to analyze existing cross correlation between COCA COLA CO and Wells Fargo Company. You can compare the effects of market volatilities on COCA COLA and Wells Fargo 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 COCA COLA with a short position of Wells Fargo. See also your portfolio center. Please also check ongoing floating volatility patterns of COCA COLA and Wells Fargo.
Horizon     30 Days    Login   to change
Symbolsvs
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Comparative Performance

COCA COLA CO  
00

Risk-Adjusted Performance

Over the last 30 days COCA COLA CO has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, COCA COLA is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.
Wells Fargo  
1717

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Wells Fargo Company are ranked lower than 17 (%) of all global equities and portfolios over the last 30 days. Despite somewhat unsteady basic indicators, Wells Fargo sustained solid returns over the last few months and may actually be approaching a breakup point.

COCA COLA and Wells Fargo Volatility Contrast

COCA COLA CO  vs.  Wells Fargo Company

 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  4,500  in Wells Fargo Company on October 20, 2019 and sell it today you would earn a total of  897.00  from holding Wells Fargo Company or generate 19.93% return on investment over 30 days.

Pair Corralation between COCA COLA and Wells Fargo

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy1.56%
ValuesDaily Returns

Diversification Opportunities for COCA COLA and Wells Fargo

COCA COLA CO diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding COCA COLA CO and Wells Fargo Company in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Wells Fargo and COCA COLA 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 COCA COLA CO are associated (or correlated) with Wells Fargo. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Wells Fargo has no effect on the direction of COCA COLA i.e. COCA COLA and Wells Fargo go up and down completely randomly.

COCA COLA CO

Pair trading matchups for COCA COLA

See also your portfolio center. Please also try Money Managers module to screen money managers from public funds and etfs managed around the world.


 
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