Correlation Analysis Between Endesa S and Siemens Gamesa

This module allows you to analyze existing cross correlation between Endesa S A and Siemens Gamesa Renewable Energy S A. You can compare the effects of market volatilities on Endesa S and Siemens Gamesa 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 Endesa S with a short position of Siemens Gamesa. See also your portfolio center. Please also check ongoing floating volatility patterns of Endesa S and Siemens Gamesa.
Horizon     30 Days    Login   to change
Symbolsvs
Compare Efficiency

Comparative Performance

Endesa S A  
1

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Endesa S A are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days. Despite somewhat strong basic indicators, Endesa S is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.
Siemens Gamesa Renew  
0

Risk-Adjusted Performance

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

Endesa S and Siemens Gamesa Volatility Contrast

 Predicted Return Density 
      Returns 

Endesa S A  vs.  Siemens Gamesa Renewable Energ

 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  2,165  in Endesa S A on March 20, 2019 and sell it today you would earn a total of  14.00  from holding Endesa S A or generate 0.65% return on investment over 30 days.

Pair Corralation between Endesa S and Siemens Gamesa

0.0
Time Period2 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy5.71%
ValuesDaily Returns

Diversification Opportunities for Endesa S and Siemens Gamesa

Endesa S A diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Endesa S A and Siemens Gamesa Renewable Energ in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Siemens Gamesa Renew and Endesa S 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 Endesa S A are associated (or correlated) with Siemens Gamesa. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Siemens Gamesa Renew has no effect on the direction of Endesa S i.e. Endesa S and Siemens Gamesa go up and down completely randomly.
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