Correlation Analysis Between Rex Energy and Antero Resources

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

Rex Energy Corp.  vs.  Antero Resources Corp.

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Rex Energy Corporation is expected to under-perform the Antero Resources. But the stock apears to be less risky and, when comparing its historical volatility, Rex Energy Corporation is 9.32 times less risky than Antero Resources. The stock trades about -0.5 of its potential returns per unit of risk. The Antero Resources Corporation is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest  1,880  in Antero Resources Corporation on September 17, 2018 and sell it today you would earn a total of  35.00  from holding Antero Resources Corporation or generate 1.86% return on investment over 30 days.

Pair Corralation between Rex Energy and Antero Resources

0.02
Time Period1 Month [change]
DirectionPositive 
StrengthInsignificant
Accuracy15.38%
ValuesDaily Returns

Diversification

Significant diversification

Overlapping area represents the amount of risk that can be diversified away by holding Rex Energy Corp. and Antero Resources Corp. in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Antero Resources and Rex Energy 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 Rex Energy Corporation are associated (or correlated) with Antero Resources. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Antero Resources has no effect on the direction of Rex Energy i.e. Rex Energy and Antero Resources go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Rex Energy  
0 

Risk-Adjusted Performance

Over the last 30 days Rex Energy Corporation has generated negative risk-adjusted returns adding no value to investors with long positions.
Antero Resources  
2 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Antero Resources Corporation are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1115.69

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