This module allows you to analyze existing cross correlation between TOTAL S A and Hess Corporation. You can compare the effects of market volatilities on TOTAL S 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 S with a short position of Hess. See also your portfolio center
. Please also check ongoing floating volatility patterns of TOTAL S
TOTAL S A vs Hess Corp.
Considering 30-days investment horizon, TOTAL S A is expected to generate 0.59 times more return on investment than Hess. However, TOTAL S A is 1.7 times less risky than Hess. It trades about -0.09 of its potential returns per unit of risk. Hess Corporation is currently generating about -0.23 per unit of risk. If you would invest 5,886 in TOTAL S A on January 22, 2018 and sell it today you would lose (222.00) from holding TOTAL S A or give up 3.77% of portfolio value over 30 days.
|Time Period||1 Month [change]|
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding TOTAL S A and Hess Corp. in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Hess and TOTAL S 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 TOTAL S A are associated (or correlated) with Hess. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hess has no effect on the direction of TOTAL S i.e. TOTAL S and Hess go up and down completely randomly.
Over the last 30 days TOTAL S A has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days Hess Corporation has generated negative risk-adjusted returns adding no value to investors with long positions.