Correlation Analysis Between Eastman Kodak and Fabrinet

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

Eastman Kodak  
55

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Eastman Kodak Company are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days. Regardless of fairly conflicting technical and fundamental indicators, Eastman Kodak demonstrated solid returns over the last few months and may actually be approaching a breakup point.
Fabrinet  
00

Risk-Adjusted Performance

Over the last 30 days Fabrinet has generated negative risk-adjusted returns adding no value to investors with long positions. Allthough quite persistent forward indicators, Fabrinet is not utilizing all of its potentials. The current stock price mess, may contribute to short term losses for the partners.

Eastman Kodak and Fabrinet Volatility Contrast

 Predicted Return Density 
      Returns 

Eastman Kodak Company  vs.  Fabrinet

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Eastman Kodak Company is expected to generate 1.01 times more return on investment than Fabrinet. However, Eastman Kodak is 1.01 times more volatile than Fabrinet. It trades about 0.08 of its potential returns per unit of risk. Fabrinet is currently generating about 0.0 per unit of risk. If you would invest  239.00  in Eastman Kodak Company on September 23, 2019 and sell it today you would earn a total of  31.00  from holding Eastman Kodak Company or generate 12.97% return on investment over 30 days.

Pair Corralation between Eastman Kodak and Fabrinet

0.16
Time Period3 Months [change]
DirectionPositive 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Eastman Kodak and Fabrinet

Eastman Kodak Company diversification synergy

Average diversification

Overlapping area represents the amount of risk that can be diversified away by holding Eastman Kodak Company and Fabrinet in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Fabrinet and Eastman Kodak 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 Eastman Kodak Company are associated (or correlated) with Fabrinet. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fabrinet has no effect on the direction of Eastman Kodak i.e. Eastman Kodak and Fabrinet go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Center module to all portfolio management and optimization tools to improve performance of your portfolios.


 
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