Pair Correlation Between AEX Amsterdam and NZSE

This module allows you to analyze existing cross correlation between AEX Amsterdam and NZSE. You can compare the effects of market volatilities on AEX Amsterdam and NZSE 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 AEX Amsterdam with a short position of NZSE. See also your portfolio center. Please also check ongoing floating volatility patterns of AEX Amsterdam and NZSE.
 Time Horizon     30 Days    Login   to change
 AEX Amsterdam  vs   NZSE
 Performance (%) 

Pair Volatility

Given the investment horizon of 30 days, AEX Amsterdam is expected to under-perform the NZSE. In addition to that, AEX Amsterdam is 8.65 times more volatile than NZSE. It trades about -0.24 of its total potential returns per unit of risk. NZSE is currently generating about -0.08 per unit of volatility. If you would invest  831,426  in NZSE on January 22, 2018 and sell it today you would lose (13,513)  from holding NZSE or give up 1.63% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between AEX Amsterdam and NZSE


Time Period1 Month [change]
StrengthVery Weak
ValuesDaily Returns


Modest diversification

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

Comparative Volatility

 Predicted Return Density