Correlation Analysis Between Anadarko Petroleum and Whiting Petroleum

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

Anadarko Petroleum  
1212

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Anadarko Petroleum Corporation are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days. Despite somewhat strong basic indicators, Anadarko Petroleum is not utilizing all of its potentials. The recent stock price disturbance, may contribute to short term losses for the investors.
Whiting Petroleum  
00

Risk-Adjusted Performance

Over the last 30 days Whiting Petroleum Corporation has generated negative risk-adjusted returns adding no value to investors with long positions. Even with unfluctuating performance in the last few months, the Stock's technical indicators remain considerably steady which may send shares a bit higher in October 2019. The new chaos may also be a sign of medium term up-swing for the business stakeholders.

Anadarko Petroleum and Whiting Petroleum Volatility Contrast

 Predicted Return Density 
      Returns 

Anadarko Petroleum Corp.  vs.  Whiting Petroleum Corp.

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, Anadarko Petroleum Corporation is expected to generate 0.05 times more return on investment than Whiting Petroleum. However, Anadarko Petroleum Corporation is 18.76 times less risky than Whiting Petroleum. It trades about 0.19 of its potential returns per unit of risk. Whiting Petroleum Corporation is currently generating about -0.07 per unit of risk. If you would invest  7,011  in Anadarko Petroleum Corporation on August 21, 2019 and sell it today you would earn a total of  266.00  from holding Anadarko Petroleum Corporation or generate 3.79% return on investment over 30 days.

Pair Corralation between Anadarko Petroleum and Whiting Petroleum

-0.76
Time Period3 Months [change]
DirectionNegative 
StrengthWeak
Accuracy64.52%
ValuesDaily Returns

Diversification Opportunities for Anadarko Petroleum and Whiting Petroleum

Anadarko Petroleum Corp. diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Anadarko Petroleum Corp. and Whiting Petroleum Corp. in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Whiting Petroleum and Anadarko Petroleum 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 Anadarko Petroleum Corporation are associated (or correlated) with Whiting Petroleum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Whiting Petroleum has no effect on the direction of Anadarko Petroleum i.e. Anadarko Petroleum and Whiting Petroleum go up and down completely randomly.
See also your portfolio center. Please also try Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.


 
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