Correlation Analysis Between Macys and Dollar General

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

Macys Inc  vs.  Dollar General Corp.

 Performance (%) 
      Timeline 

Pair Volatility

Taking into account the 30 trading days horizon, Macys is expected to under-perform the Dollar General. In addition to that, Macys is 1.99 times more volatile than Dollar General Corporation. It trades about -0.13 of its total potential returns per unit of risk. Dollar General Corporation is currently generating about 0.1 per unit of volatility. If you would invest  10,727  in Dollar General Corporation on August 22, 2018 and sell it today you would earn a total of  206.00  from holding Dollar General Corporation or generate 1.92% return on investment over 30 days.

Pair Corralation between Macys and Dollar General

-0.07
Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Macys  
0 

Risk-Adjusted Performance

Over the last 30 days Macys has generated negative risk-adjusted returns adding no value to investors with long positions.
Dollar General  
6 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Dollar General Corporation are ranked lower than 6 (%) 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
$1161.22

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