Pair Correlation Between Tuesday Morning and Franchise Bancorp

This module allows you to analyze existing cross correlation between Tuesday Morning Corporation and Franchise Bancorp Inc. You can compare the effects of market volatilities on Tuesday Morning and Franchise Bancorp 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 Tuesday Morning with a short position of Franchise Bancorp. See also your portfolio center. Please also check ongoing floating volatility patterns of Tuesday Morning and Franchise Bancorp.
Investment Horizon     30 Days    Login   to change
Symbolsvs
 Tuesday Morning Corp.  vs   Franchise Bancorp Inc
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  245  in Tuesday Morning Corporation on September 19, 2017 and sell it today you would earn a total of  15  from holding Tuesday Morning Corporation or generate 6.12% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Tuesday Morning and Franchise Bancorp
-0.25

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy4.35%
ValuesDaily Returns

Diversification

Very good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Tuesday Morning

  
5 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Tuesday Morning Corporation are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days.