Correlation Analysis Between ETFS Wheat and H M

This module allows you to analyze existing cross correlation between ETFS Wheat ETC and H M Hennes Mauritz AB. You can compare the effects of market volatilities on ETFS Wheat and H M 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 ETFS Wheat with a short position of H M. See also your portfolio center. Please also check ongoing floating volatility patterns of ETFS Wheat and H M.
Horizon     30 Days    Login   to change
Symbolsvs
Compare Efficiency

Comparative Performance

ETFS Wheat ETC  
0

Risk-Adjusted Performance

Over the last 30 days ETFS Wheat ETC has generated negative risk-adjusted returns adding no value to investors with long positions.
H M Hennes  
0

Risk-Adjusted Performance

Over the last 30 days H M Hennes Mauritz AB has generated negative risk-adjusted returns adding no value to investors with long positions.

ETFS Wheat and H M Volatility Contrast

 Predicted Return Density 
      Returns 

ETFS Wheat ETC  vs.  H M Hennes Mauritz AB

 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  13,803  in H M Hennes Mauritz AB on January 23, 2019 and sell it today you would earn a total of  0.00  from holding H M Hennes Mauritz AB or generate 0.0% return on investment over 30 days.

Pair Corralation between ETFS Wheat and H M

-0.1
Time Period2 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy27.78%
ValuesDaily Returns

Diversification Opportunities for ETFS Wheat and H M

ETFS Wheat ETC diversification synergy

Good diversification

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

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