Correlation Analysis Between FGL Holdings and Home Depot

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

FGL Holdings  

Risk-Adjusted Performance

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

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Home Depot are ranked lower than 9 (%) 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 October 2019.

FGL Holdings and Home Depot Volatility Contrast

 Predicted Return Density 

FGL Holdings  vs.  Home Depot Inc

 Performance (%) 

Pair Volatility

Allowing for the 30-days total investment horizon, FGL Holdings is expected to under-perform the Home Depot. In addition to that, FGL Holdings is 1.6 times more volatile than Home Depot. It trades about -0.01 of its total potential returns per unit of risk. Home Depot is currently generating about 0.14 per unit of volatility. If you would invest  20,669  in Home Depot on August 18, 2019 and sell it today you would earn a total of  2,352  from holding Home Depot or generate 11.38% return on investment over 30 days.

Pair Corralation between FGL Holdings and Home Depot

Time Period3 Months [change]
StrengthVery Weak
ValuesDaily Returns

Diversification Opportunities for FGL Holdings and Home Depot

FGL Holdings diversification synergy

Modest diversification

Overlapping area represents the amount of risk that can be diversified away by holding FGL Holdings and Home Depot Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Home Depot and FGL Holdings 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 FGL Holdings 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 FGL Holdings i.e. FGL Holdings and Home Depot go up and down completely randomly.
See also your portfolio center. Please also try Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..