Benchmark  United States  NYSE  10,882   0.53  0.0% 


Processing
Collecting data for TOT and HES ...

Correlation analysis between Total and Hess

    
  
Summary
Performance
TechnicalsRecomendation
   Valuation
   Backtest
   Forecast
Investment horizon:  
  30 Days    Login   to change
  
This module allows you to analyze existing cross correlation between Total SA and Hess Corporation. You can compare the effects of market volatilities on Total and Hess 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 Total with a short position of Hess. Please also check ongoing floating volatility patterns of Total and Hess.
 Total SA  vs   Hess Corp.
Daily Returns (%)
HES   TOT   
Benchmark  Embed   Timeline 
Considering 30-days investment horizon, Total SA is expected to generate 1.15 times more return on investment than Hess. However, Total is 1.15 times more volatile than Hess Corporation. It trades about 0.05 of its potential returns per unit of risk. Hess Corporation is currently generating about -0.33 per unit of risk. If you would invest  4,861  in Total SA on July 2, 2015 and sell it today you would earn a total of  68.00  from holding Total SA or generate 1.4% return on investment over 30 days.

Correlation Coefficient

0.53

Parameters

Time Period1 Month [change]
DirectionPositive HES Moved Up vs TOT
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very weak diversification

Overlapping area represents amount of risk that can be diversified away by holding Total SA and Hess Corp. in the same portfolio assuming nothing else is changed

Historical Performance Chart

Comparative Volatility

Predicted Return Density  
Benchmark  Embed   Returns 

Total SA

  

Risk-adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Total SA are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.

Pair trading matchups for Total

Exxon Mobil Corporation vs. Total SA
PetroChina Co Ltd vs. Total SA
Chevron Corporation vs. Total SA
Royal Dutch Shell plc 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
Imperial Oil Ltd vs. Total SA
  

Hess

  

Risk-adjusted Performance

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

Pair trading matchups for Hess

ConocoPhillips vs. Hess Corporation
Enterprise Products Partners LP vs. Hess Corporation
Occidental Petroleum Corporation vs. Hess Corporation
EOG Resources Inc vs. Hess Corporation
Suncor Energy Inc vs. Hess Corporation
Anadarko Petroleum Corporation vs. Hess Corporation
Canadian Natural Resources Limited vs. Hess Corporation
Devon Energy Corporation vs. Hess Corporation
Pioneer Natural Resources Co vs. Hess Corporation
Apache Corp vs. Hess Corporation