Correlation Analysis Between Halliburton and Baker Hughes

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

Halliburton Company  vs.  Baker Hughes Incorporated

 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  5.60  in Baker Hughes Incorporated on September 20, 2018 and sell it today you would earn a total of  0.00  from holding Baker Hughes Incorporated or generate 0.0% return on investment over 30 days.

Pair Corralation between Halliburton and Baker Hughes

0.0
Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy4.17%
ValuesDaily Returns

Diversification

Pay attention

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

Comparative Volatility

Halliburton  
0 

Risk-Adjusted Performance

Over the last 30 days Halliburton Company has generated negative risk-adjusted returns adding no value to investors with long positions.
Baker Hughes Incorporated  
0 

Risk-Adjusted Performance

Over the last 30 days Baker Hughes Incorporated has generated negative risk-adjusted returns adding no value to investors with long positions.

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1115.69

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