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  
00

Risk-Adjusted Performance

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

RWE and ENGIE Volatility Contrast

RWE  vs.  ENGIE

 Performance (%) 
      Timeline 

Pair Volatility

If you would invest (100.00)  in ENGIE on November 11, 2019 and sell it today you would earn a total of  100.00  from holding ENGIE or generate -100.0% return on investment over 30 days.

Pair Corralation between RWE and ENGIE

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for RWE and ENGIE

RWE diversification synergy

Pay attention

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 Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.


 
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