Correlation Analysis Between AES CORP and ELMOS SEMICONDUCTOR

This module allows you to analyze existing cross correlation between AES CORP DL 01 and ELMOS SEMICONDUCTOR AG. You can compare the effects of market volatilities on AES CORP and ELMOS SEMICONDUCTOR 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 AES CORP with a short position of ELMOS SEMICONDUCTOR. See also your portfolio center. Please also check ongoing floating volatility patterns of AES CORP and ELMOS SEMICONDUCTOR.
Horizon     30 Days    Login   to change
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Comparative Performance

AES CORP DL  
00

Risk-Adjusted Performance

Over the last 30 days AES CORP DL 01 has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, AES CORP is not utilizing all of its potentials. The current stock price tumult, may contribute to shorter-term losses for the shareholders.
ELMOS SEMICONDUCTOR  
55

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in ELMOS SEMICONDUCTOR AG are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days. In spite of rather unsteady fundamental drivers, ELMOS SEMICONDUCTOR exhibited solid returns over the last few months and may actually be approaching a breakup point.

AES CORP and ELMOS SEMICONDUCTOR Volatility Contrast

AES CORP DL 01  vs.  ELMOS SEMICONDUCTOR AG

 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  2,470  in ELMOS SEMICONDUCTOR AG on November 16, 2019 and sell it today you would earn a total of  380.00  from holding ELMOS SEMICONDUCTOR AG or generate 15.38% return on investment over 30 days.

Pair Corralation between AES CORP and ELMOS SEMICONDUCTOR

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy1.54%
ValuesDaily Returns

Diversification Opportunities for AES CORP and ELMOS SEMICONDUCTOR

AES CORP DL 01 diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding AES CORP DL 01 and ELMOS SEMICONDUCTOR AG in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on ELMOS SEMICONDUCTOR and AES CORP 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 AES CORP DL 01 are associated (or correlated) with ELMOS SEMICONDUCTOR. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ELMOS SEMICONDUCTOR has no effect on the direction of AES CORP i.e. AES CORP and ELMOS SEMICONDUCTOR go up and down completely randomly.

ELMOS SEMICONDUCTOR AG

Pair trading matchups for ELMOS SEMICONDUCTOR

See also your portfolio center. Please also try Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.


 
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