Correlation Analysis Between Ford Motor and ATT

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

Ford Motor  
00

Risk-Adjusted Performance

Over the last 30 days Ford Motor Company has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, Ford Motor is not utilizing all of its potentials. The prevalent stock price tumult, may contribute to shorter-term losses for the shareholders.
ATT  
1515

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in ATT are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days. In spite of comparatively conflicting essential indicators, ATT unveiled solid returns over the last few months and may actually be approaching a breakup point.

Ford Motor and ATT Volatility Contrast

 Predicted Return Density 
      Returns 

Ford Motor Company  vs.  ATT Inc

 Performance (%) 
      Timeline 

Pair Volatility

Taking into account the 30 trading days horizon, Ford Motor Company is expected to under-perform the ATT. In addition to that, Ford Motor is 1.35 times more volatile than ATT. It trades about -0.06 of its total potential returns per unit of risk. ATT is currently generating about 0.23 per unit of volatility. If you would invest  3,209  in ATT on August 22, 2019 and sell it today you would earn a total of  582.00  from holding ATT or generate 18.14% return on investment over 30 days.

Pair Corralation between Ford Motor and ATT

-0.57
Time Period3 Months [change]
DirectionNegative 
StrengthVery Weak
Accuracy98.44%
ValuesDaily Returns

Diversification Opportunities for Ford Motor and ATT

Ford Motor Company diversification synergy

Excellent diversification

Overlapping area represents the amount of risk that can be diversified away by holding Ford Motor Company and ATT Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on ATT and Ford Motor 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 Ford Motor Company are associated (or correlated) with ATT. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ATT has no effect on the direction of Ford Motor i.e. Ford Motor and ATT go up and down completely randomly.
See also your portfolio center. Please also try Equity Search module to search for activelly-traded equities including funds and etfs from over 30 global markets.


 
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