Correlation Analysis Between ETFS Wheat and Atlas Copco

This module allows you to analyze existing cross correlation between ETFS Wheat ETC and Atlas Copco AB. You can compare the effects of market volatilities on ETFS Wheat and Atlas Copco 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 Atlas Copco. See also your portfolio center. Please also check ongoing floating volatility patterns of ETFS Wheat and Atlas Copco.
 Time Horizon     30 Days    Login   to change
Symbolsvs

ETFS Commodity Securities Ltd   vs.  Atlas Copco AB 0R82

 Performance (%) 
      Timeline 

Pair Volatility

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 Atlas Copco

-0.03
Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy4.76%
ValuesDaily Returns

Diversification

Good diversification

Overlapping area represents the amount of risk that can be diversified away by holding ETFS Commodity Securities Ltd and Atlas Copco AB 0R82 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Atlas Copco AB 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 Atlas Copco. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Atlas Copco AB has no effect on the direction of ETFS Wheat i.e. ETFS Wheat and Atlas Copco go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
ETFS Commodity Secur  
9 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in ETFS Wheat ETC are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days.
Atlas Copco AB  
0 

Risk-Adjusted Performance

Over the last 30 days Atlas Copco AB has generated negative risk-adjusted returns adding no value to investors with long positions.

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