Correlation Analysis Between Sears Holdings and Target

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

Sears Holdings  
00

Risk-Adjusted Performance

Over the last 30 days Sears Holdings Corporation has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, Sears Holdings is not utilizing all of its potentials. The latest stock price tumult, may contribute to shorter-term losses for the shareholders.
Target  
99

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Target Corporation are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days. In spite of comparatively weak essential indicators, Target unveiled solid returns over the last few months and may actually be approaching a breakup point.

Sears Holdings and Target Volatility Contrast

 Predicted Return Density 
      Returns 

Sears Holdings Corp.  vs.  Target Corp.

 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  8,606  in Target Corporation on August 21, 2019 and sell it today you would earn a total of  2,181  from holding Target Corporation or generate 25.34% return on investment over 30 days.

Pair Corralation between Sears Holdings and Target

-0.8
Time Period3 Months [change]
DirectionNegative 
StrengthSignificant
Accuracy3.23%
ValuesDaily Returns

Diversification Opportunities for Sears Holdings and Target

Sears Holdings Corp. diversification synergy

Pay attention

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