Correlation Analysis Between Spectrum Brands and Walmart

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

Spectrum Brands Hold  
00

Risk-Adjusted Performance

Over the last 30 days Spectrum Brands Holdings has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, Spectrum Brands is not utilizing all of its potentials. The latest stock price disturbance, may contribute to short term losses for the investors.
Walmart  
55

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Walmart are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days. In spite of comparatively weak essential indicators, Walmart may actually be approaching a critical reversion point that can send shares even higher in October 2019.

Spectrum Brands and Walmart Volatility Contrast

 Predicted Return Density 
      Returns 

Spectrum Brands Holdings Inc  vs.  Walmart Inc

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, Spectrum Brands Holdings is expected to under-perform the Walmart. In addition to that, Spectrum Brands is 1.83 times more volatile than Walmart. It trades about -0.01 of its total potential returns per unit of risk. Walmart is currently generating about 0.09 per unit of volatility. If you would invest  10,978  in Walmart on August 19, 2019 and sell it today you would earn a total of  673.00  from holding Walmart or generate 6.13% return on investment over 30 days.

Pair Corralation between Spectrum Brands and Walmart

-0.36
Time Period3 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Spectrum Brands and Walmart

Spectrum Brands Holdings Inc diversification synergy

Very good diversification

Overlapping area represents the amount of risk that can be diversified away by holding Spectrum Brands Holdings Inc and Walmart Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Walmart and Spectrum Brands 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 Spectrum Brands Holdings are associated (or correlated) with Walmart. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Walmart has no effect on the direction of Spectrum Brands i.e. Spectrum Brands and Walmart go up and down completely randomly.
See also your portfolio center. Please also try Price Ceiling Movement module to calculate and plot price ceiling movement for different equity instruments.


 
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