Pair Correlation Between Petrobras Argentina and Total SA

Investment Horizon     30 Days    Login   to change
This module allows you to analyze existing cross correlation between Petrobras Argentina SA and Total SA. You can compare the effects of market volatilities on Petrobras Argentina and Total SA 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 Petrobras Argentina with a short position of Total SA. Please also check ongoing floating volatility patterns of Petrobras Argentina and Total SA.
 Petrobras Argentina SA  vs   Total SA
Daily Returns (%)
PZE   TOT   
Benchmark  Embed   Timeline 
Considering 30-days investment horizon, Petrobras Argentina SA is expected to under-perform the Total SA. In addition to that, Petrobras Argentina is 2.11 times more volatile than Total SA. It trades about -0.1 of its total potential returns per unit of risk. Total SA is currently generating about 0.08 per unit of volatility. If you would invest  4,823  in Total SA on October 30, 2015 and sell it today you would earn a total of  100.00  from holding Total SA or generate 2.07% return on investment over 30 days.

Correlation Coefficient



Time Period1 Month [change]
ValuesDaily Returns


Very weak diversification

Overlapping area represents amount of risk that can be diversified away by holding Petrobras Argentina SA and Total SA in the same portfolio assuming nothing else is changed

Historical Performance Chart

Comparative Volatility

Predicted Return Density  
Benchmark  Embed   Returns 

Petrobras Argentina


Risk-adjusted Performance

Over the last 30 days Petrobras Argentina SA has generated negative risk-adjusted returns adding no value to investors with long positions.

Pair trading matchups for Petrobras Argentina


Total SA


Risk-adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Total SA are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days.

Pair trading matchups for Total SA