Correlation Between Maj Invest and Chevron

By analyzing existing cross correlation between Maj Invest Makro and Chevron you can compare the effects of market volatilities on Maj Invest and Chevron 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 Maj Invest with a short position of Chevron. Check out your portfolio center. Please also check ongoing floating volatility patterns of Maj Invest and Chevron.

Specify exactly 2 symbols:

Can any of the company-specific risk be diversified away by investing in both Maj Invest and Chevron at the same time? Although using correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combing Maj Invest and Chevron into the same portfolio which is an essential part of fundamental portfolio management process.

Diversification Opportunities for Maj Invest and Chevron

<div class='circular--portrait-small' style='font-weight: 700;background:#347AFC;color: #ffffff;font-size:0.9em;padding-top: 12px;;'>CVX</div>

Pay attention - limited upside

The 3 months correlation between MAJMAK and Chevron is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Maj Invest Makro and Chevron Corp. in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Chevron and Maj Invest 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 Maj Invest Makro are associated (or correlated) with Chevron. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Chevron has no effect on the direction of Maj Invest i.e. Maj Invest and Chevron go up and down completely randomly.

Pair Corralation between Maj Invest and Chevron

If you would invest  9,532  in Chevron on May 5, 2020 and sell it today you would earn a total of  127.00  from holding Chevron or generate 1.33% return on investment over 30 days.
Time Period3 Months [change]
ValuesDaily Returns

Maj Invest Makro  vs.  Chevron Corp.

 Performance (%) 
Maj Invest Makro 

Maj Invest Risk-Adjusted Performance

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

Chevron Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Chevron are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days. Inspite fairly unsteady basic indicators, Chevron showed solid returns over the last few months and may actually be approaching a breakup point.

Maj Invest and Chevron Volatility Contrast

Check out your portfolio center. Please also try CEO Directory module to screen ceos from public companies around the world.

Macroaxis is not a registered investment advisor or broker/dealer. All investments, including stocks, funds, ETFs, or cryptocurrencies, are speculative and involve substantial risk of loss. We encourage our investors to invest carefully. Much of our information is derived directly from data published by companies or submitted to governmental agencies which we believe are reliable, but are without our independent verification. Therefore, we cannot assure you that the information is accurate or complete. We do not in any way warrant or guarantee the success of any action you take in reliance on our statements or recommendations. Also, note that past performance is not necessarily indicative of future results. All investments carry risk, and all investment decisions of an individual remain the responsibility of that individual. There is no guarantee that systems, indicators, or signals will result in profits or that they will not result in losses. All investors are advised to fully understand all risks associated with any investing they choose to do. Hypothetical or simulated performance is not indicative of future results. We make no representations or warranties that any investor will, or is likely to, achieve profits similar to those shown because hypothetical or simulated performance is not necessarily indicative of future results. For more information please visit our terms and condition page