This module allows you to analyze existing cross correlation between ETFS Wheat ETC and Exxon Mobil Corp 0R1M. You can compare the effects of market volatilities on ETFS Wheat and Exxon Mobil 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 Exxon Mobil. See also your portfolio center. Please also check ongoing floating volatility patterns of ETFS Wheat and Exxon Mobil.
ETFS Commodity Securities Ltd vs. Exxon Mobil Corp 0R1M
Assuming 30 trading days horizon, ETFS Wheat ETC is expected to generate 1.77 times more return on investment than Exxon Mobil. However, ETFS Wheat is 1.77 times more volatile than Exxon Mobil Corp 0R1M. It trades about 0.15 of its potential returns per unit of risk. Exxon Mobil Corp 0R1M is currently generating about -0.16 per unit of risk. If you would invest 66.45 in ETFS Wheat ETC on July 21, 2018 and sell it today you would earn a total of 4.35 from holding ETFS Wheat ETC or generate 6.55% return on investment over 30 days.
Pair Corralation between ETFS Wheat and Exxon Mobil
Overlapping area represents the amount of risk that can be diversified away by holding ETFS Commodity Securities Ltd and Exxon Mobil Corp 0R1M in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Exxon Mobil Corp 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 Exxon Mobil. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Exxon Mobil Corp has no effect on the direction of ETFS Wheat i.e. ETFS Wheat and Exxon Mobil go up and down completely randomly.
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