Correlation Analysis Between Fuel Tech and MIKROS SYSTEMS

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

Fuel Tech  
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Risk-Adjusted Performance

Over the last 30 days Fuel Tech has generated negative risk-adjusted returns adding no value to investors with long positions. Regardless of fragile performance in the last few months, the Stock's technical and fundamental indicators remain fairly consistent which may send shares a bit higher in October 2019. The prevailing confusion may also be a sign of long-lasting up-swing for the organization traders.
MIKROS SYSTEMS CORP  
00

Risk-Adjusted Performance

Over the last 30 days MIKROS SYSTEMS CORP has generated negative risk-adjusted returns adding no value to investors with long positions. In defiance of fragile performance in the last few months, the Stock's forward-looking signals remain relatively invariable which may send shares a bit higher in October 2019. The latest agitation may also be a sign of long running up-swing for the enterprise management.

Fuel Tech and MIKROS SYSTEMS Volatility Contrast

 Predicted Return Density 
      Returns 

Fuel Tech Inc  vs.  MIKROS SYSTEMS CORP

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Fuel Tech is expected to generate 0.41 times more return on investment than MIKROS SYSTEMS. However, Fuel Tech is 2.44 times less risky than MIKROS SYSTEMS. It trades about -0.09 of its potential returns per unit of risk. MIKROS SYSTEMS CORP is currently generating about -0.12 per unit of risk. If you would invest  129.00  in Fuel Tech on August 19, 2019 and sell it today you would lose (28.00)  from holding Fuel Tech or give up 21.71% of portfolio value over 30 days.

Pair Corralation between Fuel Tech and MIKROS SYSTEMS

0.48
Time Period3 Months [change]
DirectionPositive 
StrengthWeak
Accuracy98.41%
ValuesDaily Returns

Diversification Opportunities for Fuel Tech and MIKROS SYSTEMS

Fuel Tech Inc diversification synergy

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Fuel Tech Inc and MIKROS SYSTEMS CORP in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on MIKROS SYSTEMS CORP and Fuel Tech 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 Fuel Tech are associated (or correlated) with MIKROS SYSTEMS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MIKROS SYSTEMS CORP has no effect on the direction of Fuel Tech i.e. Fuel Tech and MIKROS SYSTEMS go up and down completely randomly.
See also your portfolio center. Please also try Watchlist Optimization module to optimize watchlists to build efficient portfolio or rebalance existing positions based on mean-variance optimization algorithm.


 
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