This module allows you to analyze existing cross correlation between ATT and Agilent Technologies. You can compare the effects of market volatilities on ATT and Agilent Technologies 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 ATT with a short position of Agilent Technologies. See also your portfolio center. Please also check ongoing floating volatility patterns of ATT and Agilent Technologies.
|Horizon||30 Days Login to change|
Compared to the overall equity markets, risk-adjusted returns on investments in ATT are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days. In spite of comparatively weak essential indicators, ATT unveiled solid returns over the last few months and may actually be approaching a breakup point.
Compared to the overall equity markets, risk-adjusted returns on investments in Agilent Technologies are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days. Despite somewhat fragile basic indicators, Agilent Technologies may actually be approaching a critical reversion point that can send shares even higher in October 2019.
ATT and Agilent Technologies Volatility Contrast
Predicted Return Density
ATT Inc vs. Agilent Technologies Inc
Taking into account the 30 trading days horizon, ATT is expected to generate 0.68 times more return on investment than Agilent Technologies. However, ATT is 1.47 times less risky than Agilent Technologies. It trades about 0.22 of its potential returns per unit of risk. Agilent Technologies is currently generating about 0.08 per unit of risk. If you would invest 3,209 in ATT on August 21, 2019 and sell it today you would earn a total of 535.00 from holding ATT or generate 16.67% return on investment over 30 days.
Pair Corralation between ATT and Agilent Technologies
|Time Period||3 Months [change]|
Diversification Opportunities for ATT and Agilent Technologies
Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding ATT Inc and Agilent Technologies Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Agilent Technologies and ATT 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 ATT are associated (or correlated) with Agilent Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Agilent Technologies has no effect on the direction of ATT i.e. ATT and Agilent Technologies go up and down completely randomly.
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