Correlation Analysis Between Whirlpool and Newell Brands

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

Whirlpool Corp.  vs.  Newell Brands Inc

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, Whirlpool Corporation is expected to generate 0.75 times more return on investment than Newell Brands. However, Whirlpool Corporation is 1.34 times less risky than Newell Brands. It trades about 0.23 of its potential returns per unit of risk. Newell Brands is currently generating about 0.0 per unit of risk. If you would invest  14,465  in Whirlpool Corporation on June 22, 2018 and sell it today you would earn a total of  715.00  from holding Whirlpool Corporation or generate 4.94% return on investment over 30 days.

Pair Corralation between Whirlpool and Newell Brands

0.88
Time Period1 Month [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification

Very poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Whirlpool  
15 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Whirlpool Corporation are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.
Newell Brands  
0 

Risk-Adjusted Performance

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

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Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1186.96

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