Correlation Analysis Between Agilent Technologies and Exxon

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

Agilent Technologies  
55

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Agilent Technologies are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days. Despite somewhat fragile basic indicators, Agilent Technologies may actually be approaching a critical reversion point that can send shares even higher in October 2019.
Exxon Mobil  
00

Risk-Adjusted Performance

Over the last 30 days Exxon Mobil Corporation has generated negative risk-adjusted returns adding no value to investors with long positions. Even with considerably steady technical indicators, Exxon is not utilizing all of its potentials. The new stock price chaos, may contribute to medium term losses for the stakeholders.

Agilent Technologies and Exxon Volatility Contrast

 Predicted Return Density 
      Returns 

Agilent Technologies Inc  vs.  Exxon Mobil Corp.

 Performance (%) 
      Timeline 

Pair Volatility

Taking into account the 30 trading days horizon, Agilent Technologies is expected to generate 1.41 times more return on investment than Exxon. However, Agilent Technologies is 1.41 times more volatile than Exxon Mobil Corporation. It trades about 0.08 of its potential returns per unit of risk. Exxon Mobil Corporation is currently generating about -0.04 per unit of risk. If you would invest  7,298  in Agilent Technologies on August 21, 2019 and sell it today you would earn a total of  550.00  from holding Agilent Technologies or generate 7.54% return on investment over 30 days.

Pair Corralation between Agilent Technologies and Exxon

0.46
Time Period3 Months [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Agilent Technologies and Exxon

Agilent Technologies Inc diversification synergy

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Agilent Technologies Inc and Exxon Mobil Corp. in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Exxon Mobil and Agilent Technologies 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 Agilent Technologies are associated (or correlated) with Exxon. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Exxon Mobil has no effect on the direction of Agilent Technologies i.e. Agilent Technologies and Exxon go up and down completely randomly.
See also your portfolio center. Please also try Fundamental Analysis module to view fundamental data based on most recent published financial statements.


 
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