Correlation Analysis Between ATX and All Ords

This module allows you to analyze existing cross correlation between ATX and All Ords. You can compare the effects of market volatilities on ATX and All Ords 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 ATX with a short position of All Ords. See also your portfolio center. Please also check ongoing floating volatility patterns of ATX and All Ords.
 Time Horizon     30 Days    Login   to change
Symbolsvs

ATX  vs.  All Ords

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, ATX is expected to generate 1.54 times more return on investment than All Ords. However, ATX is 1.54 times more volatile than All Ords. It trades about 0.04 of its potential returns per unit of risk. All Ords is currently generating about 0.02 per unit of risk. If you would invest  328,674  in ATX on June 23, 2018 and sell it today you would earn a total of  2,180  from holding ATX or generate 0.66% return on investment over 30 days.

Pair Corralation between ATX and All Ords

1.0
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

No risk reduction

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

 Predicted Return Density 
      Returns 

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GOOG - USA Stock
Alphabet
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IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1184.91

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