Correlation Analysis Between BRAM INDUSTRIES and Home Depot

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

BRAM INDUSTRIES  
00

Risk-Adjusted Performance

Over the last 30 days BRAM INDUSTRIES has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, BRAM INDUSTRIES is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.
Home Depot  
77

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Home Depot are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days. In spite of rather sluggish fundamental drivers, Home Depot may actually be approaching a critical reversion point that can send shares even higher in September 2019.

BRAM INDUSTRIES and Home Depot Volatility Contrast

BRAM INDUSTRIES  vs.  Home Depot Inc

 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  20,474  in Home Depot on July 25, 2019 and sell it today you would earn a total of  1,273  from holding Home Depot or generate 6.22% return on investment over 30 days.

Pair Corralation between BRAM INDUSTRIES and Home Depot

0.0
Time Period2 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy2.33%
ValuesDaily Returns

Diversification Opportunities for BRAM INDUSTRIES and Home Depot

BRAM INDUSTRIES diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding BRAM INDUSTRIES and Home Depot Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Home Depot and BRAM INDUSTRIES 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 BRAM INDUSTRIES are associated (or correlated) with Home Depot. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Home Depot has no effect on the direction of BRAM INDUSTRIES i.e. BRAM INDUSTRIES and Home Depot go up and down completely randomly.
See also your portfolio center. Please also try Transaction History module to view history of all your transactions and understand their impact on performance.


 
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