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Benchmark  United States  NYSE  11,010   28.189 Index Moved Down -0.26%  


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Collecting data for TOT and HES ...

Correlation analysis between Total and Hess

   
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   
 
Change Benchmark  Embed  Timeline 
Considering 30-days investment horizon, Total SA is expected to under-perform the Hess. In addition to that, Total is 1.15 times more volatile than Hess Corporation. It trades about -0.17 of its total potential returns per unit of risk. Hess Corporation is currently generating about 0.03 per unit of volatility. If you would invest  9,942  in Hess Corporation on July 29, 2014 and sell it today you would earn a total of  77.00  from holding Hess Corporation or generate 0.77% return on investment over 30 days.

Correlation Coefficient

0.43
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
Investing ideals could easily outperform a given market if properly optimized
  
Hess Report  
  
Total Report  

Historical Performance Chart

Comparative Volatility

Predicted Return Density
 
Embed  
Returns:   
HES   TOT   

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
  

Hess

  
Compared with the overall equity markets, risk-adjusted returns on investments in Hess Corporation are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.

Pair trading matchups for Hess

ConocoPhillips vs. Hess Corporation
Enterprise Products Partners LP vs. Hess Corporation
Canadian Natural Resources Limited vs. Hess Corporation


 
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