- Companies in United States
- Peer Analysis
This module allows you to analyze existing cross correlation between Mitsubishi Corporation and Calgon Carbon Corporation. You can compare the effects of market volatilities on Mitsubishi and Calgon Carbon 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 Mitsubishi with a short position of Calgon Carbon. See also your portfolio center. Please also check ongoing floating volatility patterns of Mitsubishi and Calgon Carbon.
|Horizon||30 Days Login to change|
Over the last 30 days Mitsubishi Corporation has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of latest weak performance, the Stock's fundamental drivers remain sound and the ongoing tumult on Wall Street may also be a sign of longer-term gains for the firm shareholders.
Compared to the overall equity markets, risk-adjusted returns on investments in Calgon Carbon Corporation are ranked lower than 24 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, Calgon Carbon sustained solid returns over the last few months and may actually be approaching a breakup point.
Mitsubishi and Calgon Carbon Volatility Contrast
Predicted Return Density
Mitsubishi Corp. vs. Calgon Carbon Corp.
Assuming 30 trading days horizon, Mitsubishi Corporation is expected to under-perform the Calgon Carbon. But the stock apears to be less risky and, when comparing its historical volatility, Mitsubishi Corporation is 1.7 times less risky than Calgon Carbon. The stock trades about -0.21 of its potential returns per unit of risk. The Calgon Carbon Corporation is currently generating about 0.36 of returns per unit of risk over similar time horizon. If you would invest 1,115 in Calgon Carbon Corporation on March 25, 2019 and sell it today you would earn a total of 267.00 from holding Calgon Carbon Corporation or generate 23.95% return on investment over 30 days.
Pair Corralation between Mitsubishi and Calgon Carbon
|Time Period||2 Months [change]|
Diversification Opportunities for Mitsubishi and Calgon Carbon
Overlapping area represents the amount of risk that can be diversified away by holding Mitsubishi Corp. and Calgon Carbon Corp. in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Calgon Carbon and Mitsubishi 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 Mitsubishi Corporation are associated (or correlated) with Calgon Carbon. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Calgon Carbon has no effect on the direction of Mitsubishi i.e. Mitsubishi and Calgon Carbon go up and down completely randomly.
Pair trading matchups for Mitsubishi
Calgon Carbon Corporation
Pair trading matchups for Calgon Carbon
See also your portfolio center. Please also try Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..