Correlation Analysis Between Ford Motor and DAIMLER AG

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

Ford Motor  
00

Risk-Adjusted Performance

Over the last 30 days Ford Motor Company has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, Ford Motor is not utilizing all of its potentials. The new stock price tumult, may contribute to shorter-term losses for the shareholders.
DAIMLER AG  
33

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in DAIMLER AG are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days. In spite of rather unsteady fundamental drivers, DAIMLER AG may actually be approaching a critical reversion point that can send shares even higher in January 2020.

Ford Motor and DAIMLER AG Volatility Contrast

 Predicted Return Density 
      Returns 

Ford Motor Company  vs.  DAIMLER AG

 Performance (%) 
      Timeline 

Pair Volatility

Taking into account the 30 trading days horizon, Ford Motor Company is expected to under-perform the DAIMLER AG. But the stock apears to be less risky and, when comparing its historical volatility, Ford Motor Company is 1.31 times less risky than DAIMLER AG. The stock trades about -0.04 of its potential returns per unit of risk. The DAIMLER AG is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest  5,158  in DAIMLER AG on November 9, 2019 and sell it today you would earn a total of  308.00  from holding DAIMLER AG or generate 5.97% return on investment over 30 days.

Pair Corralation between Ford Motor and DAIMLER AG

-0.19
Time Period3 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy98.46%
ValuesDaily Returns

Diversification Opportunities for Ford Motor and DAIMLER AG

Ford Motor Company diversification synergy

Good diversification

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