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Asset Comparison and Correlation

    
       
Investment horizon: 
30 Days (Login to change)
       
 
    
 Salix Pharmaceuticals Ltd.  and   American Funds HiInc Muni Bond
Check Correlation Matrix  
Daily Returns (%)
SLXP  ABHFX  
Timeline
Given investment horizon of 30 days, Salix Pharmaceuticals Ltd. is expected to generate 24.88 times more return on investment than American. However, Salix is 24.88 times more volatile than American Funds HiInc Muni Bond F1. It trades about 0.07 of its potential returns per unit of risk. American Funds HiInc Muni Bond F1 is currently generating about 0.5 per unit of risk. If you would invest 5,055 in Salix Pharmaceuticals Ltd. on April 26, 2012 and sell it today you would earn a total of 32.00 from holding Salix Pharmaceuticals Ltd. or generate 0.63% return on investment over 30 days.

Diversification

Good diversification
Overlapping area represents amount of risk that can be diversified away by holding Salix Pharmaceuticals Ltd. and American Funds HiInc Muni Bond in the same portfolio (assuming nothing else is changed)

Correlation Coefficient

-0.06
 Parameters
Time Period1 Month [change]
DirectionNegative SLXP Moved Down vs ABHFX
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns
    
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Predicted Return Density
Expected Daily Returns   
SLXP  ABHFX  

Salix Pharmaceuticals Ltd.

 
    
    
Salix
Performance
3
Out Of
100
Over 30
Days
97% of all equities and portfolios perform better than Salix Pharmaceuticals Ltd.. Compared with the overall equity markets, risk-adjusted returns on investments in Salix Pharmaceuticals Ltd. are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.
    
    
Mylan Inc. vs. Salix Pharmaceuticals Ltd.
Watson Pharmaceuticals Inc. vs. Salix Pharmaceuticals Ltd.
Medicis Pharmaceutical Corporation vs. Salix Pharmaceuticals Ltd.
Par Pharmaceutical Companies Inc. vs. Salix Pharmaceuticals Ltd.
Akorn Inc. vs. Salix Pharmaceuticals Ltd.
Hi Tech Pharmacal Inc. vs. Salix Pharmaceuticals Ltd.
  

American Funds HiInc Muni Bond F1

 
    
    
American
Performance
22
Out Of
100
Over 30
Days
78% of all equities and portfolios perform better than American Funds HiInc Muni Bond F1. Compared with the overall equity markets, risk-adjusted returns on investments in American Funds HiInc Muni Bond F1 are ranked lower than 22 (%) of all global equities and portfolios over the last 30 days.
    
    
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Franklin High Yield TaxFree Inc B vs. American Funds HiInc Muni Bond F1
Nuveen High Yield Municipal Bond B vs. American Funds HiInc Muni Bond F1
Nuveen High Yield Municipal Bond A vs. American Funds HiInc Muni Bond F1
       


 

 
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