This module allows you to analyze existing cross correlation between Agilent Technologies and Guardant Health. You can compare the effects of market volatilities on Agilent Technologies and Guardant Health 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 Agilent Technologies with a short position of Guardant Health. See also your portfolio center. Please also check ongoing floating volatility patterns of Agilent Technologies and Guardant Health.
|Horizon||30 Days Login to change|
Compared to the overall equity markets, risk-adjusted returns on investments in Agilent Technologies are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days. Despite somewhat fragile basic indicators, Agilent Technologies may actually be approaching a critical reversion point that can send shares even higher in October 2019.
Over the last 30 days Guardant Health has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Stock's fundamental indicators remain nearly stable which may send shares a bit higher in October 2019. The prevalent disturbance may also be a sign of long-run up-swing for the entity stockholder.
Agilent Technologies and Guardant Health Volatility Contrast
Predicted Return Density
Agilent Technologies Inc vs. Guardant Health Inc
Taking into account the 30 trading days horizon, Agilent Technologies is expected to generate 0.38 times more return on investment than Guardant Health. However, Agilent Technologies is 2.6 times less risky than Guardant Health. It trades about 0.07 of its potential returns per unit of risk. Guardant Health is currently generating about -0.05 per unit of risk. If you would invest 7,249 in Agilent Technologies on August 18, 2019 and sell it today you would earn a total of 466.00 from holding Agilent Technologies or generate 6.43% return on investment over 30 days.
Pair Corralation between Agilent Technologies and Guardant Health
|Time Period||3 Months [change]|
Diversification Opportunities for Agilent Technologies and Guardant Health
Overlapping area represents the amount of risk that can be diversified away by holding Agilent Technologies Inc and Guardant Health Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Guardant Health and Agilent Technologies 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 Agilent Technologies are associated (or correlated) with Guardant Health. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guardant Health has no effect on the direction of Agilent Technologies i.e. Agilent Technologies and Guardant Health go up and down completely randomly.
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