Correlation Analysis Between ARGENTINA and United Parcel

This module allows you to analyze existing cross correlation between ARGENTINA 0 Percent T BILL 25 and United Parcel Service. You can compare the effects of market volatilities on ARGENTINA and United Parcel 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 with a short position of United Parcel. See also your portfolio center. Please also check ongoing floating volatility patterns of ARGENTINA and United Parcel.
Horizon     30 Days    Login   to change
Symbolsvs
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Comparative Performance

ARGENTINA 0 Percent  
00

Risk-Adjusted Performance

Over the last 30 days ARGENTINA 0 Percent T BILL 25 has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat weak basic indicators, ARGENTINA sustained solid returns over the last few months and may actually be approaching a breakup point.
United Parcel Service  
00

Risk-Adjusted Performance

Over the last 30 days United Parcel Service has generated negative risk-adjusted returns adding no value to investors with long positions. In defiance of relatively invariable forward-looking signals, United Parcel is not utilizing all of its potentials. The latest stock price agitation, may contribute to short term losses for the management.

ARGENTINA and United Parcel Volatility Contrast

 Predicted Return Density 
      Returns 

ARGENTINA 0 Percent T BILL 25  vs.  United Parcel Service Inc

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, ARGENTINA 0 Percent T BILL 25 is expected to generate 16.72 times more return on investment than United Parcel. However, ARGENTINA is 16.72 times more volatile than United Parcel Service. It trades about 0.04 of its potential returns per unit of risk. United Parcel Service is currently generating about -0.03 per unit of risk. If you would invest  430,000  in ARGENTINA 0 Percent T BILL 25 on November 16, 2019 and sell it today you would lose (124,300)  from holding ARGENTINA 0 Percent T BILL 25 or give up 28.91% of portfolio value over 30 days.

Pair Corralation between ARGENTINA and United Parcel

-0.21
Time Period3 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy64.06%
ValuesDaily Returns

Diversification Opportunities for ARGENTINA and United Parcel

ARGENTINA 0 Percent T BILL 25 diversification synergy

Very good diversification

Overlapping area represents the amount of risk that can be diversified away by holding ARGENTINA 0 Percent T BILL 25 and United Parcel Service Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on United Parcel Service and ARGENTINA 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 0 Percent T BILL 25 are associated (or correlated) with United Parcel. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of United Parcel Service has no effect on the direction of ARGENTINA i.e. ARGENTINA and United Parcel go up and down completely randomly.

ARGENTINA 0 Percent T BILL 25

Pair trading matchups for ARGENTINA

See also your portfolio center. Please also try Price Ceiling Movement module to calculate and plot price ceiling movement for different equity instruments.


 
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