Correlation Analysis Between Visa and Macys

This module allows you to analyze existing cross correlation between Visa and Macys. You can compare the effects of market volatilities on Visa and Macys 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 Visa with a short position of Macys. See also your portfolio center. Please also check ongoing floating volatility patterns of Visa and Macys.
Horizon     30 Days    Login   to change
Symbolsvs
Compare Efficiency

Comparative Performance

Visa  
3

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Visa are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.
Macys  
0

Risk-Adjusted Performance

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

Visa and Macys Volatility Contrast

 Predicted Return Density 
      Returns 

Visa Inc  vs.  Macys Inc

 Performance (%) 
      Timeline 

Pair Volatility

Taking into account the 30 trading days horizon, Visa is expected to generate 0.64 times more return on investment than Macys. However, Visa is 1.56 times less risky than Macys. It trades about 0.06 of its potential returns per unit of risk. Macys is currently generating about -0.13 per unit of risk. If you would invest  13,287  in Visa on December 23, 2018 and sell it today you would earn a total of  617.00  from holding Visa or generate 4.64% return on investment over 30 days.

Pair Corralation between Visa and Macys

0.27
Time Period2 Months [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Visa and Macys

Visa Inc diversification synergy

Modest diversification

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

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