Correlation Analysis Between Accenture plc and International Business

This module allows you to analyze existing cross correlation between Accenture plc and International Business Machines. You can compare the effects of market volatilities on Accenture plc and International Business 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 International Business. See also your portfolio center. Please also check ongoing floating volatility patterns of Accenture plc and International Business.
Horizon     30 Days    Login   to change
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Comparative Performance

Accenture plc  
22

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Accenture plc are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days. Allthough quite persistent forward indicators, Accenture plc is not utilizing all of its potentials. The late stock price mess, may contribute to short term losses for the partners.
International Business  
22

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in International Business Machines are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days. Even with considerably steady technical indicators, International Business is not utilizing all of its potentials. The late stock price chaos, may contribute to medium term losses for the stakeholders.

Accenture plc and International Business Volatility Contrast

 Predicted Return Density 
      Returns 

Accenture plc  vs.  International Business Machine

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, Accenture plc is expected to generate 1.07 times less return on investment than International Business. But when comparing it to its historical volatility, Accenture plc is 1.14 times less risky than International Business. It trades about 0.04 of its potential returns per unit of risk. International Business Machines is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest  13,776  in International Business Machines on August 21, 2019 and sell it today you would earn a total of  412.00  from holding International Business Machines or generate 2.99% return on investment over 30 days.

Pair Corralation between Accenture plc and International Business

0.23
Time Period3 Months [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Accenture plc and International Business

Accenture plc diversification synergy

Modest diversification

Overlapping area represents the amount of risk that can be diversified away by holding Accenture plc and International Business Machine in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on International Business 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 International Business. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of International Business has no effect on the direction of Accenture plc i.e. Accenture plc and International Business go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.


 
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