Correlation Analysis Between Progressive and Loews

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

Progressive  
00

Risk-Adjusted Performance

Over the last 30 days Progressive Corporation has generated negative risk-adjusted returns adding no value to investors with long positions. In defiance of latest sluggish performance, the Stock's forward-looking signals remain invariable and the latest agitation on Wall Street may also be a sign of long running gains for the enterprise management.
Loews  
00

Risk-Adjusted Performance

Over the last 30 days Loews Corporation has generated negative risk-adjusted returns adding no value to investors with long positions. Even with sluggish performance in the last few months, the Stock's technical indicators remain considerably steady which may send shares a bit higher in September 2019. The new chaos may also be a sign of medium term up-swing for the business stakeholders.

Progressive and Loews Volatility Contrast

 Predicted Return Density 
      Returns 

Progressive Corp.  vs.  Loews Corp.

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, Progressive Corporation is expected to generate 1.18 times more return on investment than Loews. However, Progressive is 1.18 times more volatile than Loews Corporation. It trades about -0.07 of its potential returns per unit of risk. Loews Corporation is currently generating about -0.24 per unit of risk. If you would invest  7,956  in Progressive Corporation on July 25, 2019 and sell it today you would lose (441.00)  from holding Progressive Corporation or give up 5.54% of portfolio value over 30 days.

Pair Corralation between Progressive and Loews

0.9
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Progressive and Loews

Progressive Corp. diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding Progressive Corp. and Loews Corp. in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Loews and Progressive 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 Progressive Corporation are associated (or correlated) with Loews. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Loews has no effect on the direction of Progressive i.e. Progressive and Loews go up and down completely randomly.
See also your portfolio center. Please also try Price Ceiling Movement module to calculate and plot price ceiling movement for different equity instruments.


 
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