This module allows you to analyze existing cross correlation between Red Elctrica Corporacin S A and Siemens Gamesa Renewable Energy S A. You can compare the effects of market volatilities on Red Elctrica and Siemens Gamesa 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 Red Elctrica with a short position of Siemens Gamesa. See also your portfolio center. Please also check ongoing floating volatility patterns of Red Elctrica and Siemens Gamesa.
|Horizon||30 Days Login to change|
|Red Elctrica Corporacin|
Over the last 30 days Red Elctrica Corporacin S A has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Stock's basic indicators remain somewhat strong which may send shares a bit higher in August 2019. The current disturbance may also be a sign of long term up-swing for the company investors.
|Siemens Gamesa Renew|
Over the last 30 days Siemens Gamesa Renewable Energy S A has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, Siemens Gamesa is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.
Red Elctrica and Siemens Gamesa Volatility Contrast
Predicted Return Density
Red Elctrica Corporacin S A vs. Siemens Gamesa Renewable Energ
If you would invest 1,698 in Siemens Gamesa Renewable Energy S A on June 17, 2019 and sell it today you would earn a total of 0.00 from holding Siemens Gamesa Renewable Energy S A or generate 0.0% return on investment over 30 days.
Pair Corralation between Red Elctrica and Siemens Gamesa
|Time Period||2 Months [change]|
Diversification Opportunities for Red Elctrica and Siemens Gamesa
Overlapping area represents the amount of risk that can be diversified away by holding Red Elctrica Corporacin S A and Siemens Gamesa Renewable Energ in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Siemens Gamesa Renew and Red Elctrica 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 Red Elctrica Corporacin S A are associated (or correlated) with Siemens Gamesa. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Siemens Gamesa Renew has no effect on the direction of Red Elctrica i.e. Red Elctrica and Siemens Gamesa go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.