Correlation Analysis Between ATT and Ford Motor

This module allows you to analyze existing cross correlation between ATT and Ford Motor Company. You can compare the effects of market volatilities on ATT and Ford Motor 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 ATT with a short position of Ford Motor. See also your portfolio center. Please also check ongoing floating volatility patterns of ATT and Ford Motor.
Horizon     30 Days    Login   to change
Symbolsvs

ATT  vs.  Ford Motor Company

 Performance (%) 
      Timeline 

Pair Volatility

Taking into account the 30 trading days horizon, ATT is expected to generate 0.57 times more return on investment than Ford Motor. However, ATT is 1.75 times less risky than Ford Motor. It trades about 0.24 of its potential returns per unit of risk. Ford Motor Company is currently generating about 0.08 per unit of risk. If you would invest  3,249  in ATT on August 23, 2018 and sell it today you would earn a total of  129.00  from holding ATT or generate 3.97% return on investment over 30 days.

Pair Corralation between ATT and Ford Motor

0.01
Time Period1 Month [change]
DirectionPositive 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Significant diversification

Overlapping area represents the amount of risk that can be diversified away by holding ATT and Ford Motor Company in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Ford Motor and ATT 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 ATT are associated (or correlated) with Ford Motor. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ford Motor has no effect on the direction of ATT i.e. ATT and Ford Motor go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
ATT  
15 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in ATT are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.
Ford Motor  
5 

Risk-Adjusted Performance

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

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Alphabet
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IT, Search Cloud And Integrated IT Services
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ExchangeNASDAQ
$1166.09

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