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Correlation Between ARGENTINA FRN and AMAZON COM

Analyzing existing cross correlation between ARGENTINA FRN SNR 0320 and AMAZON COM INC. You can compare the effects of market volatilities on ARGENTINA FRN and AMAZON COM 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 ARGENTINA FRN with a short position of AMAZON COM. See also your portfolio center. Please also check ongoing floating volatility patterns of ARGENTINA FRN and AMAZON COM.
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Comparative Performance

ARGENTINA FRN SNR  
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Risk-Adjusted Performance

Over the last 30 days ARGENTINA FRN SNR 0320 has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, ARGENTINA FRN is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.
AMAZON COM INC  
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Risk-Adjusted Performance

Over the last 30 days AMAZON COM INC has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat weak basic indicators, AMAZON COM sustained solid returns over the last few months and may actually be approaching a breakup point.

ARGENTINA FRN and AMAZON COM Volatility Contrast

ARGENTINA FRN SNR 0320  vs.  AMAZON COM INC

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  Timeline 

Pair Volatility

If you would invest  186,550  in AMAZON COM INC on January 17, 2020 and sell it today you would earn a total of  54,450  from holding AMAZON COM INC or generate 29.19% return on investment over 30 days.

Pair Corralation between ARGENTINA FRN and AMAZON COM

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Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

Diversification Opportunities for ARGENTINA FRN and AMAZON COM

ARGENTINA FRN SNR 0320 diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding ARGENTINA FRN SNR 0320 and AMAZON COM INC in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on AMAZON COM INC and ARGENTINA FRN 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 ARGENTINA FRN SNR 0320 are associated (or correlated) with AMAZON COM. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AMAZON COM INC has no effect on the direction of ARGENTINA FRN i.e. ARGENTINA FRN and AMAZON COM go up and down completely randomly.

AMAZON COM INC

Pair trading matchups for AMAZON COM

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