Correlation Analysis Between Anadarko Petroleum and Exxon

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

Anadarko Petroleum  
88

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Anadarko Petroleum Corporation are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days. Despite somewhat sluggish basic indicators, Anadarko Petroleum sustained solid returns over the last few months and may actually be approaching a breakup point.
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 latest sluggish performance, the Stock's technical indicators remain steady and the new chaos on Wall Street may also be a sign of medium term gains for the business stakeholders.

Anadarko Petroleum and Exxon Volatility Contrast

 Predicted Return Density 
      Returns 

Anadarko Petroleum Corp.  vs.  Exxon Mobil Corp.

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, Anadarko Petroleum Corporation is expected to generate 118.86 times more return on investment than Exxon. However, Anadarko Petroleum is 118.86 times more volatile than Exxon Mobil Corporation. It trades about 0.12 of its potential returns per unit of risk. Exxon Mobil Corporation is currently generating about -0.08 per unit of risk. If you would invest  7,338  in Anadarko Petroleum Corporation on September 17, 2019 and sell it today you would lose (7,338)  from holding Anadarko Petroleum Corporation or give up 100.0% of portfolio value over 30 days.

Pair Corralation between Anadarko Petroleum and Exxon

-0.12
Time Period3 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy67.19%
ValuesDaily Returns

Diversification Opportunities for Anadarko Petroleum and Exxon

Anadarko Petroleum Corp. diversification synergy

Good diversification

Overlapping area represents the amount of risk that can be diversified away by holding Anadarko Petroleum Corp. and Exxon Mobil Corp. in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Exxon Mobil 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 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 Anadarko Petroleum i.e. Anadarko Petroleum and Exxon go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.


 
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