Correlation Analysis Between Raymond James and Stifel Financial

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

Raymond James Financial  
1515

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Raymond James Financial are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days. In spite of rather unsteady fundamental drivers, Raymond James exhibited solid returns over the last few months and may actually be approaching a breakup point.
Stifel Financial  
1111

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Stifel Financial Corporation are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days. In spite of rather uncertain fundamental drivers, Stifel Financial exhibited solid returns over the last few months and may actually be approaching a breakup point.

Raymond James and Stifel Financial Volatility Contrast

 Predicted Return Density 
      Returns 

Raymond James Financial Inc  vs.  Stifel Financial Corp.

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, Raymond James Financial is expected to generate 0.77 times more return on investment than Stifel Financial. However, Raymond James Financial is 1.3 times less risky than Stifel Financial. It trades about 0.23 of its potential returns per unit of risk. Stifel Financial Corporation is currently generating about 0.17 per unit of risk. If you would invest  7,331  in Raymond James Financial on October 13, 2019 and sell it today you would earn a total of  1,631  from holding Raymond James Financial or generate 22.25% return on investment over 30 days.

Pair Corralation between Raymond James and Stifel Financial

0.96
Time Period3 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Raymond James and Stifel Financial

Raymond James Financial Inc diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding Raymond James Financial Inc and Stifel Financial Corp. in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Stifel Financial and Raymond James 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 Raymond James Financial are associated (or correlated) with Stifel Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Stifel Financial has no effect on the direction of Raymond James i.e. Raymond James and Stifel Financial go up and down completely randomly.
See also your portfolio center. Please also try Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..


 
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