Correlation Analysis Between GM and ATT

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

General Motors  
00

Risk-Adjusted Performance

Over the last 30 days General Motors Company has generated negative risk-adjusted returns adding no value to investors with long positions. Even with latest unsteady performance, the Stock's technical indicators remain steady and the new chaos on Wall Street may also be a sign of medium term gains for the business stakeholders.
ATT  
11

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in ATT are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days. In spite of comparatively unchanging essential indicators, ATT is not utilizing all of its potentials. The current stock price uproar, may contribute to short horizon losses for the leadership.

GM and ATT Volatility Contrast

 Predicted Return Density 
      Returns 

General Motors Company  vs.  ATT Inc

 Performance (%) 
      Timeline 

Pair Volatility

Allowing for the 30-days total investment horizon, General Motors Company is expected to under-perform the ATT. In addition to that, GM is 1.44 times more volatile than ATT. It trades about -0.09 of its total potential returns per unit of risk. ATT is currently generating about 0.03 per unit of volatility. If you would invest  3,758  in ATT on November 9, 2019 and sell it today you would earn a total of  62.00  from holding ATT or generate 1.65% return on investment over 30 days.

Pair Corralation between GM and ATT

0.26
Time Period3 Months [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for GM and ATT

General Motors Company diversification synergy

Modest diversification

Overlapping area represents the amount of risk that can be diversified away by holding General Motors Company and ATT Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on ATT and GM 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 General Motors 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 GM i.e. GM and ATT go up and down completely randomly.
See also your portfolio center. Please also try CEO Directory module to screen ceos from public companies around the world.


 
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