Correlation Analysis Between ATT and Exxon

This module allows you to analyze existing cross correlation between ATT and Exxon Mobil Corporation. You can compare the effects of market volatilities on ATT and Exxon 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 Exxon. See also your portfolio center. Please also check ongoing floating volatility patterns of ATT and Exxon.
Horizon     30 Days    Login   to change
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Comparative Performance

ATT  
1414

Risk-Adjusted Performance

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 sluggish essential indicators, ATT unveiled solid returns over the last few months and may actually be approaching a breakup point.
Exxon Mobil  
00

Risk-Adjusted Performance

Over the last 30 days Exxon Mobil Corporation has generated negative risk-adjusted returns adding no value to investors with long positions. Even with considerably steady technical indicators, Exxon is not utilizing all of its potentials. The new stock price chaos, may contribute to medium term losses for the stakeholders.

ATT and Exxon Volatility Contrast

 Predicted Return Density 
      Returns 

ATT Inc  vs.  Exxon Mobil Corp.

 Performance (%) 
      Timeline 

Pair Volatility

Taking into account the 30 trading days horizon, ATT is expected to generate 0.94 times more return on investment than Exxon. However, ATT is 1.06 times less risky than Exxon. It trades about 0.21 of its potential returns per unit of risk. Exxon Mobil Corporation is currently generating about -0.02 per unit of risk. If you would invest  3,205  in ATT on August 19, 2019 and sell it today you would earn a total of  511.00  from holding ATT or generate 15.94% return on investment over 30 days.

Pair Corralation between ATT and Exxon

0.97
Time Period3 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for ATT and Exxon

ATT Inc diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding ATT Inc and Exxon Mobil Corp. in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Exxon Mobil 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 Exxon. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Exxon Mobil has no effect on the direction of ATT i.e. ATT and Exxon go up and down completely randomly.
See also your portfolio center. Please also try Money Flow Index module to determine momentum by analyzing money flow index and other technical indicators.


 
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