Correlation Analysis Between Target and Aarons

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

Target Corp.  vs.  Aarons Inc

 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  4,503  in Aarons on June 20, 2018 and sell it today you would earn a total of  158.00  from holding Aarons or generate 3.51% return on investment over 30 days.

Pair Corralation between Target and Aarons

0.0
Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy4.55%
ValuesDaily Returns

Diversification

Pay attention

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

Comparative Volatility

Target  
0 

Risk-Adjusted Performance

Over the last 30 days Target Corporation has generated negative risk-adjusted returns adding no value to investors with long positions.
Aarons  
7 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Aarons are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.

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GOOG - USA Stock
Alphabet
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1186.96

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See also your portfolio center. Please also try Bollinger Bands module to use bollinger bands indicator to analyze target price for a given investing horizon.


 
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