This module allows you to analyze existing cross correlation between Accenture plc and AECOM. You can compare the effects of market volatilities on Accenture plc and AECOM 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 Accenture plc with a short position of AECOM. See also your portfolio center
. Please also check ongoing floating volatility patterns of Accenture plc
Accenture plc vs AECOM
Considering 30-days investment horizon, Accenture plc is expected to generate 1.02 times less return on investment than AECOM. But when comparing it to its historical volatility, Accenture plc is 1.61 times less risky than AECOM. It trades about 0.42 of its potential returns per unit of risk. AECOM is currently generating about 0.26 of returns per unit of risk over similar time horizon. If you would invest 3,728 in AECOM on December 22, 2017 and sell it today you would earn a total of 193 from holding AECOM or generate 5.18% return on investment over 30 days.
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Very poor diversification
Overlapping area represents the amount of risk that can be diversified away by holding Accenture plc and AECOM in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on AECOM and Accenture plc 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 Accenture plc are associated (or correlated) with AECOM. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AECOM has no effect on the direction of Accenture plc i.e. Accenture plc and AECOM go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Accenture plc are ranked lower than 27 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in AECOM are ranked lower than 17 (%) of all global equities and portfolios over the last 30 days.