Correlation Analysis Between Sothebys and 1 800

This module allows you to analyze existing cross correlation between Sothebys and 1 800 FLOWERS COM. You can compare the effects of market volatilities on Sothebys and 1 800 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 Sothebys with a short position of 1 800. See also your portfolio center. Please also check ongoing floating volatility patterns of Sothebys and 1 800.
Horizon     30 Days    Login   to change
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Comparative Performance

Sothebys  
33

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Sothebys are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days. In spite of rather sound fundamental drivers, Sothebys is not utilizing all of its potentials. The prevailing stock price tumult, may contribute to shorter-term losses for the shareholders.
1 800 FLOWERS  
00

Risk-Adjusted Performance

Over the last 30 days 1 800 FLOWERS COM has generated negative risk-adjusted returns adding no value to investors with long positions. In defiance of relatively invariable forward-looking signals, 1 800 is not utilizing all of its potentials. The existing stock price agitation, may contribute to short term losses for the management.

Sothebys and 1 800 Volatility Contrast

 Predicted Return Density 
      Returns 

Sothebys  vs.  1 800 FLOWERS COM Inc

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, Sothebys is expected to generate 1.17 times less return on investment than 1 800. But when comparing it to its historical volatility, Sothebys is 5.53 times less risky than 1 800. It trades about 0.05 of its potential returns per unit of risk. 1 800 FLOWERS COM is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest  1,901  in 1 800 FLOWERS COM on July 25, 2019 and sell it today you would lose (37.00)  from holding 1 800 FLOWERS COM or give up 1.95% of portfolio value over 30 days.

Pair Corralation between Sothebys and 1 800

0.05
Time Period2 Months [change]
DirectionPositive 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Sothebys and 1 800

Sothebys diversification synergy

Significant diversification

Overlapping area represents the amount of risk that can be diversified away by holding Sothebys and 1 800 FLOWERS COM Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on 1 800 FLOWERS and Sothebys 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 Sothebys are associated (or correlated) with 1 800. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 1 800 FLOWERS has no effect on the direction of Sothebys i.e. Sothebys and 1 800 go up and down completely randomly.
See also your portfolio center. Please also try Analyst Recommendations module to analyst recommendations and target price estimates broken down by several categories.


 
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