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Benchmark  United States  NYSE  10,949   19.821 Index Moved Up 0.18%  


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Collecting data for PZE and TOT ...

Correlation analysis between Petrobras and Total

   
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 and Total 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 with a short position of Total. Please also check ongoing floating volatility patterns of Petrobras and Total.
 
 Petrobras Argentina SA  vs   Total SA
Daily Returns (%)
PZE   TOT   
 
Change Benchmark  Embed  Timeline 
Considering 30-days investment horizon, Petrobras Argentina SA is expected to generate 2.53 times more return on investment than Total. However, Petrobras is 2.53 times more volatile than Total SA. It trades about -0.06 of its potential returns per unit of risk. Total SA is currently generating about -0.25 per unit of risk. If you would invest  645  in Petrobras Argentina SA on July 22, 2014 and sell it today you would lose (35.00) from holding Petrobras Argentina SA or give up 5.43% of portfolio value over 30 days.

Correlation Coefficient

0.04
Parameters
Time Period1 Month [change]
DirectionPositive TOT Moved Up vs PZE
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Significant 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
Investing ideals could easily outperform a given market if properly optimized
  
Total Report  
  
Petrobras Report  

Historical Performance Chart

Comparative Volatility

Predicted Return Density
 
Embed  
Returns:   
PZE   TOT   

Petrobras Argentina SA

  
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

Chevron Corporation vs. Petrobras Argentina SA
PetroChina Co Ltd vs. Petrobras Argentina SA
BP plc vs. Petrobras Argentina SA
Total SA vs. Petrobras Argentina SA
China Petroleum Chemical Corp vs. Petrobras Argentina SA
Eni SpA vs. Petrobras Argentina SA
Statoil ASA vs. Petrobras Argentina SA
  

Total SA

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

Pair trading matchups for Total

Chevron Corporation vs. Total SA
PetroChina Co Ltd vs. Total SA
BP plc vs. Total SA
China Petroleum Chemical Corp vs. Total SA
Eni SpA vs. Total SA
Statoil ASA vs. Total SA


 
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