Correlation Analysis Between RWE and ENGIE

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

RWE  
2020

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in RWE are ranked lower than 20 (%) of all global equities and portfolios over the last 30 days. Despite nearly fragile fundamental indicators, RWE layed out solid returns over the last few months and may actually be approaching a breakup point.
ENGIE  
00

Risk-Adjusted Performance

Over the last 30 days ENGIE has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable fundamental indicators, ENGIE is not utilizing all of its potentials. The prevalent stock price disturbance, may contribute to mid-run losses for the stockholder.

RWE and ENGIE Volatility Contrast

 Predicted Return Density 
      Returns 

RWE  vs.  ENGIE

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, RWE is expected to generate 1.4 times more return on investment than ENGIE. However, RWE is 1.4 times more volatile than ENGIE. It trades about 0.3 of its potential returns per unit of risk. ENGIE is currently generating about 0.0 per unit of risk. If you would invest  2,199  in RWE on July 20, 2019 and sell it today you would earn a total of  367.00  from holding RWE or generate 16.69% return on investment over 30 days.

Pair Corralation between RWE and ENGIE

0.03
Time Period2 Months [change]
DirectionPositive 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for RWE and ENGIE

RWE diversification synergy

Significant diversification

Overlapping area represents the amount of risk that can be diversified away by holding RWE and ENGIE in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on ENGIE and RWE 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 RWE are associated (or correlated) with ENGIE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ENGIE has no effect on the direction of RWE i.e. RWE and ENGIE go up and down completely randomly.
See also your portfolio center. Please also try Insider Screener module to find insiders across different sectors to evaluate their impact on performance.


 
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