Correlation Analysis Between American Airlines and Chevron

This module allows you to analyze existing cross correlation between American Airlines Group and Chevron Corporation. You can compare the effects of market volatilities on American Airlines and Chevron 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 American Airlines with a short position of Chevron. See also your portfolio center. Please also check ongoing floating volatility patterns of American Airlines and Chevron.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

Comparative Performance

American Airlines  
00

Risk-Adjusted Performance

Over the last 30 days American Airlines Group has generated negative risk-adjusted returns adding no value to investors with long positions. Even with considerably steady technical indicators, American Airlines is not utilizing all of its potentials. The current stock price chaos, may contribute to medium term losses for the stakeholders.
Chevron  
00

Risk-Adjusted Performance

Over the last 30 days Chevron Corporation has generated negative risk-adjusted returns adding no value to investors with long positions. Inspite fairly strong basic indicators, Chevron is not utilizing all of its potentials. The ongoing stock price disturbance, may contribute to short term losses for the investors.

American Airlines and Chevron Volatility Contrast

American Airlines Group Inc  vs.  Chevron Corp.

 Performance (%) 
      Timeline 

Pair Volatility

If you would invest (100.00)  in Chevron Corporation on May 18, 2019 and sell it today you would earn a total of  100.00  from holding Chevron Corporation or generate -100.0% return on investment over 30 days.

Pair Corralation between American Airlines and Chevron

0.0
Time Period2 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

Diversification Opportunities for American Airlines and Chevron

American Airlines Group Inc diversification synergy

Pay attention

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