Correlation Analysis Between Macys and Bon Ton

This module allows you to analyze existing cross correlation between Macys and The Bon Ton Stores. You can compare the effects of market volatilities on Macys and Bon Ton 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 Macys with a short position of Bon Ton. See also your portfolio center. Please also check ongoing floating volatility patterns of Macys and Bon Ton.
 Time Horizon     30 Days    Login   to change
Symbolsvs

Macys Inc  vs.  The Bon Ton Stores Inc

 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  3,050  in Macys on April 24, 2018 and sell it today you would earn a total of  343.00  from holding Macys or generate 11.25% return on investment over 30 days.

Pair Corralation between Macys and Bon Ton

0.0
Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy56.52%
ValuesDaily Returns

Diversification

Pay attention

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Macys  
11 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Macys are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.
The Bon Ton  
0 

Risk-Adjusted Performance

Over the last 30 days The Bon Ton Stores has generated negative risk-adjusted returns adding no value to investors with long positions.

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1079.24

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See also your portfolio center. Please also try Bollinger Bands module to use bollinger bands indicator to analyze target price for a given investing horizon.