Correlation Analysis Between Whirlpool and Middleby

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

Whirlpool Corp.  vs.  The Middleby Corp.

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, Whirlpool Corporation is expected to under-perform the Middleby. In addition to that, Whirlpool is 1.47 times more volatile than The Middleby Corporation. It trades about -0.16 of its total potential returns per unit of risk. The Middleby Corporation is currently generating about 0.42 per unit of volatility. If you would invest  11,802  in The Middleby Corporation on August 22, 2018 and sell it today you would earn a total of  948.00  from holding The Middleby Corporation or generate 8.03% return on investment over 30 days.

Pair Corralation between Whirlpool and Middleby

-0.78
Time Period1 Month [change]
DirectionNegative 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Pay attention

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Whirlpool  
0 

Risk-Adjusted Performance

Over the last 30 days Whirlpool Corporation has generated negative risk-adjusted returns adding no value to investors with long positions.
The Middleby  
27 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in The Middleby Corporation are ranked lower than 27 (%) of all global equities and portfolios over the last 30 days.

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GOOG - USA Stock
Alphabet
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IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1161.22

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