Correlation Analysis Between TATNEFT PJSC and SANTOS

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

TATNEFT PJSC  
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Risk-Adjusted Performance

Over the last 30 days TATNEFT PJSC has generated negative risk-adjusted returns adding no value to investors with long positions. Inspite fairly strong basic indicators, TATNEFT PJSC is not utilizing all of its potentials. The new stock price disturbance, may contribute to short term losses for the investors.
SANTOS LIMITED  
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Risk-Adjusted Performance

Over the last 30 days SANTOS LIMITED has generated negative risk-adjusted returns adding no value to investors with long positions. Inspite fairly weak basic indicators, SANTOS may actually be approaching a critical reversion point that can send shares even higher in October 2019.

TATNEFT PJSC and SANTOS Volatility Contrast

TATNEFT PJSC  vs.  SANTOS LIMITED

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, TATNEFT PJSC is expected to under-perform the SANTOS. But the otc stock apears to be less risky and, when comparing its historical volatility, TATNEFT PJSC is 1.43 times less risky than SANTOS. The otc stock trades about 0.0 of its potential returns per unit of risk. The SANTOS LIMITED is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest  498.00  in SANTOS LIMITED on August 20, 2019 and sell it today you would earn a total of  36.00  from holding SANTOS LIMITED or generate 7.23% return on investment over 30 days.

Pair Corralation between TATNEFT PJSC and SANTOS

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy95.31%
ValuesDaily Returns

Diversification Opportunities for TATNEFT PJSC and SANTOS

TATNEFT PJSC diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding TATNEFT PJSC and SANTOS LIMITED in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on SANTOS LIMITED and TATNEFT PJSC 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 TATNEFT PJSC are associated (or correlated) with SANTOS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SANTOS LIMITED has no effect on the direction of TATNEFT PJSC i.e. TATNEFT PJSC and SANTOS go up and down completely randomly.
See also your portfolio center. Please also try Insider Screener module to find insiders across different sectors to evaluate their impact on performance.


 
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