This module allows you to analyze existing cross correlation between Macys and ATT. You can compare the effects of market volatilities on Macys and ATT 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 ATT. See also your portfolio center
. Please also check ongoing floating volatility patterns of Macys
Over the last 30 days Macys has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days ATT has generated negative risk-adjusted returns adding no value to investors with long positions.
Macys and ATT Volatility Contrast
Macys Inc vs. ATT
Taking into account the 30 trading days horizon, Macys is expected to generate 1.44 times more return on investment than ATT. However, Macys is 1.44 times more volatile than ATT. It trades about -0.05 of its potential returns per unit of risk. ATT is currently generating about -0.12 per unit of risk. If you would invest 3,234 in Macys on November 18, 2018 and sell it today you would lose (206.00) from holding Macys or give up 6.37% of portfolio value over 30 days.
Pair Corralation between Macys and ATT
|Time Period||2 Months [change]|
Diversification Opportunities for Macys and ATT
Overlapping area represents the amount of risk that can be diversified away by holding Macys Inc and ATT in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on ATT 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 ATT. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ATT has no effect on the direction of Macys i.e. Macys and ATT go up and down completely randomly.