Correlation Analysis Between Prudential Financial and Travelers Companies

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

Prudential Financial  
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Risk-Adjusted Performance

Over the last 30 days Prudential Financial has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Stock's essential indicators remain comparatively unchanging which may send shares a bit higher in September 2019. The late uproar may also be a sign of mid-term up-swing for the firm leadership.
The Travelers Companies  
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Risk-Adjusted Performance

Over the last 30 days The Travelers Companies has generated negative risk-adjusted returns adding no value to investors with long positions. Inspite fairly stable primary indicators, Travelers Companies is not utilizing all of its potentials. The current stock price fuss, may contribute to near short-term losses for the directors.

Prudential Financial and Travelers Companies Volatility Contrast

 Predicted Return Density 
      Returns 

Prudential Financial Inc  vs.  The Travelers Companies Inc

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, Prudential Financial is expected to under-perform the Travelers Companies. In addition to that, Prudential Financial is 1.82 times more volatile than The Travelers Companies. It trades about -0.23 of its total potential returns per unit of risk. The Travelers Companies is currently generating about -0.07 per unit of volatility. If you would invest  15,202  in The Travelers Companies on July 22, 2019 and sell it today you would lose (551.00)  from holding The Travelers Companies or give up 3.62% of portfolio value over 30 days.

Pair Corralation between Prudential Financial and Travelers Companies

0.72
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy97.67%
ValuesDaily Returns

Diversification Opportunities for Prudential Financial and Travelers Companies

Prudential Financial Inc diversification synergy

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Prudential Financial Inc and The Travelers Companies Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on The Travelers Companies and Prudential Financial 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 Prudential Financial are associated (or correlated) with Travelers Companies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of The Travelers Companies has no effect on the direction of Prudential Financial i.e. Prudential Financial and Travelers Companies go up and down completely randomly.
See also your portfolio center. Please also try Piotroski F Score module to get piotroski f score based on binary analysis strategy of nine different fundamentals.


 
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