Correlation Analysis Between Iberdrola and Siemens Gamesa

This module allows you to analyze existing cross correlation between Iberdrola S A and Siemens Gamesa Renewable Energy S A. You can compare the effects of market volatilities on Iberdrola and Siemens Gamesa 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 Iberdrola with a short position of Siemens Gamesa. See also your portfolio center. Please also check ongoing floating volatility patterns of Iberdrola and Siemens Gamesa.
Horizon     30 Days    Login   to change
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Compare Efficiency

Comparative Performance

Iberdrola S A  
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Risk-Adjusted Performance

Over the last 30 days Iberdrola S A has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat weak basic indicators, Iberdrola may actually be approaching a critical reversion point that can send shares even higher in May 2019.
Siemens Gamesa Renew  
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Risk-Adjusted Performance

Over the last 30 days Siemens Gamesa Renewable Energy S A has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, Siemens Gamesa is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.

Iberdrola and Siemens Gamesa Volatility Contrast

 Predicted Return Density 
      Returns 

Iberdrola S A  vs.  Siemens Gamesa Renewable Energ

 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  733.40  in Iberdrola S A on March 26, 2019 and sell it today you would earn a total of  44.60  from holding Iberdrola S A or generate 6.08% return on investment over 30 days.

Pair Corralation between Iberdrola and Siemens Gamesa

0.0
Time Period2 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy6.25%
ValuesDaily Returns

Diversification Opportunities for Iberdrola and Siemens Gamesa

Iberdrola S A diversification synergy

Pay attention

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

Siemens Gamesa Renewable Energy S A

Pair trading matchups for Siemens Gamesa

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