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Benchmark  United States  NYSE  10,955   92.504 Index Moved Down -0.84%  


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Collecting data for TOT and HES ...

Correlation analysis between Total and Hess 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 generate 0.74 times more return on investment than Hess. However, Total SA is 1.35 times less risky than Hess. It trades about -0.11 of its potential returns per unit of risk. Hess Corporation is currently generating about -0.21 per unit of risk. If you would invest  5,864  in Total SA on October 29, 2014 and sell it today you would lose (301.00) from holding Total SA or give up 5.13% of portfolio value over 30 days.

Correlation Coefficient

0.88
Parameters
Time Period1 Month [change]
DirectionPositive HES Moved Up vs TOT
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification

Very poor 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
Get Hess Corporation research report. Reports are available in pdf format. Click Hess Report to view
  
Hess Report  
Get Total SA research report. Reports are available in pdf format. Click Total Report to view
  
Total Report  

Historical Performance Chart

Comparative Volatility

Predicted Return Density
 
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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

Federal National Mortgage Association vs. Total SA
FED NATL MTG PFD I vs. Total SA
Japan Tobacco Inc vs. Total SA
SK Innovation vs. Total SA
AP M vs. Total SA
Citigroup Inc vs. Total SA
Industrial and Commercial Bank of China Limited vs. Total SA
SGS SA vs. Total SA
Huntington Bancshares Incorporated vs. Total SA
  

Hess

  
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

Federal National Mortgage Association vs. Hess Corporation
FED NATL MTG PFD I vs. Hess Corporation
Japan Tobacco Inc vs. Hess Corporation
SK Innovation vs. Hess Corporation
AP M vs. Hess Corporation
Citigroup Inc vs. Hess Corporation
Industrial and Commercial Bank of China Limited vs. Hess Corporation
SGS SA vs. Hess Corporation
Huntington Bancshares Incorporated vs. Hess Corporation


 

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