Correlation Analysis Between Yuma Energy and Antero Resources

This module allows you to analyze existing cross correlation between Yuma Energy 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.
 Time Horizon     30 Days    Login   to change
Symbolsvs

Yuma Energy Inc  vs.  Antero Resources Corp.

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Yuma Energy is expected to generate 16.93 times more return on investment than Antero Resources. However, Yuma Energy is 16.93 times more volatile than Antero Resources Corporation. It trades about 0.14 of its potential returns per unit of risk. Antero Resources Corporation is currently generating about 0.12 per unit of risk. If you would invest  35.01  in Yuma Energy on June 23, 2018 and sell it today you would earn a total of  10.99  from holding Yuma Energy or generate 31.39% return on investment over 30 days.

Pair Corralation between Yuma Energy and Antero Resources

0.57
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very weak 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 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.

Comparative Volatility

 Predicted Return Density 
      Returns 
Yuma Energy  
9 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yuma Energy are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days.
Antero Resources  
7 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Antero Resources Corporation are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1184.91

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