Correlation Analysis Between Tiffany and Este Lauder

This module allows you to analyze existing cross correlation between Tiffany Co and The Este Lauder Companies. You can compare the effects of market volatilities on Tiffany and Este Lauder 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 Tiffany with a short position of Este Lauder. See also your portfolio center. Please also check ongoing floating volatility patterns of Tiffany and Este Lauder.
Horizon     30 Days    Login   to change
Symbolsvs

Tiffany Co  vs.  The Este Lauder Companies Inc

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, Tiffany Co is expected to under-perform the Este Lauder. In addition to that, Tiffany is 1.34 times more volatile than The Este Lauder Companies. It trades about -0.22 of its total potential returns per unit of risk. The Este Lauder Companies is currently generating about -0.21 per unit of volatility. If you would invest  13,966  in The Este Lauder Companies on September 19, 2018 and sell it today you would lose (1,421)  from holding The Este Lauder Companies or give up 10.17% of portfolio value over 30 days.

Pair Corralation between Tiffany and Este Lauder

0.96
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

Almost no diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Tiffany Co  
0 

Risk-Adjusted Performance

Over the last 30 days Tiffany Co has generated negative risk-adjusted returns adding no value to investors with long positions.
The Este Lauder  
0 

Risk-Adjusted Performance

Over the last 30 days The Este Lauder Companies has generated negative risk-adjusted returns adding no value to investors with long positions.

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GOOG - USA Stock
Alphabet
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IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1096.46

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