Correlation Analysis Between ATX and IPC

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

ATX  vs.  IPC

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, ATX is expected to generate 2.65 times less return on investment than IPC. But when comparing it to its historical volatility, ATX is 1.01 times less risky than IPC. It trades about 0.1 of its potential returns per unit of risk. IPC is currently generating about 0.26 of returns per unit of risk over similar time horizon. If you would invest  4,645,691  in IPC on June 21, 2018 and sell it today you would earn a total of  245,133  from holding IPC or generate 5.28% return on investment over 30 days.

Pair Corralation between ATX and IPC

0.13
Time Period1 Month [change]
DirectionPositive 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Average diversification

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

 Predicted Return Density 
      Returns 

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GOOG - USA Stock
Alphabet
Specialization
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Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
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