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Benchmark  United States  NYSE  10,692   34.267 Index Moved Down -0.32%  


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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 2.42 times more return on investment than Total. However, Petrobras is 2.42 times more volatile than Total SA. It trades about 0.05 of its potential returns per unit of risk. Total SA is currently generating about -0.3 per unit of risk. If you would invest  657  in Petrobras Argentina SA on July 3, 2014 and sell it today you would earn a total of  16.00  from holding Petrobras Argentina SA or generate 2.44% return on investment over 30 days.

Diversification

Average 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

Correlation Coefficient

0.16
Parameters
Time Period1 Month [change]
DirectionPositive TOT Moved Up vs PZE
StrengthInsignificant
Accuracy95.45%
ValuesDaily Returns
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Historical Performance Chart

Comparative Volatility

Predicted Return Density
 
Embed  
Returns:   
PZE   TOT   

Petrobras Argentina SA

  
Compared with the overall equity markets, risk-adjusted returns on investments in Petrobras Argentina SA are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.

Pair trading matchups for Petrobras

Exxon Mobil Corporation vs. Petrobras Argentina SA
Chevron Corporation vs. Petrobras Argentina SA
Total SA 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

Exxon Mobil Corporation vs. Total SA
Chevron Corporation vs. Total SA


 
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