This module allows you to analyze existing cross correlation between Yuma Energy Inc and Antero Resources Corporation. You can compare the effects of market volatilities on Yuma Energy and Antero Resources 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 Yuma Energy with a short position of Antero Resources. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yuma Energy
and Antero Resources
Yuma Energy Inc vs Antero Resources Corp.
Given the investment horizon of 30 days, Yuma Energy Inc is expected to generate 1.95 times more return on investment than Antero Resources. However, Yuma Energy is 1.95 times more volatile than Antero Resources Corporation. It trades about 0.18 of its potential returns per unit of risk. Antero Resources Corporation is currently generating about -0.06 per unit of risk. If you would invest 99 in Yuma Energy Inc on November 14, 2017 and sell it today you would earn a total of 16 from holding Yuma Energy Inc or generate 16.16% return on investment over 30 days.
|Time Period||1 Month [change]|
Very good diversification
Overlapping area represents the amount of risk that can be diversified away by holding Yuma Energy Inc and Antero Resources Corp. in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Antero Resources and Yuma Energy 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 Yuma Energy Inc are associated (or correlated) with Antero Resources. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Antero Resources has no effect on the direction of Yuma Energy i.e. Yuma Energy and Antero Resources go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Yuma Energy Inc are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.
Over the last 30 days Antero Resources Corporation has generated negative risk-adjusted returns adding no value to investors with long positions.