Correlation Analysis Between American Airlines and Sprint

This module allows you to analyze existing cross correlation between American Airlines Group and Sprint Corporation. You can compare the effects of market volatilities on American Airlines and Sprint 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 American Airlines with a short position of Sprint. See also your portfolio center. Please also check ongoing floating volatility patterns of American Airlines and Sprint.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

Comparative Performance

American Airlines  
00

Risk-Adjusted Performance

Over the last 30 days American Airlines Group has generated negative risk-adjusted returns adding no value to investors with long positions. Even with considerably steady technical indicators, American Airlines is not utilizing all of its potentials. The current stock price chaos, may contribute to medium term losses for the stakeholders.
Sprint  
1010

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Sprint Corporation are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days. In defiance of relatively fragile forward-looking signals, Sprint reported solid returns over the last few months and may actually be approaching a breakup point.

American Airlines and Sprint Volatility Contrast

American Airlines Group Inc  vs.  Sprint Corp.

 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  588.00  in Sprint Corporation on May 21, 2019 and sell it today you would earn a total of  157.00  from holding Sprint Corporation or generate 26.7% return on investment over 30 days.

Pair Corralation between American Airlines and Sprint

0.0
Time Period2 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

Diversification Opportunities for American Airlines and Sprint

American Airlines Group Inc diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding American Airlines Group Inc and Sprint Corp. in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Sprint and American Airlines 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 American Airlines Group are associated (or correlated) with Sprint. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sprint has no effect on the direction of American Airlines i.e. American Airlines and Sprint go up and down completely randomly.
See also your portfolio center. Please also try Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.


 
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