Correlation Analysis Between ATX and OSE All

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

 Predicted Return Density 
      Returns 

ATX  vs.  OSE All

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, ATX is expected to under-perform the OSE All. In addition to that, ATX is 1.31 times more volatile than OSE All. It trades about -0.15 of its total potential returns per unit of risk. OSE All is currently generating about -0.15 per unit of volatility. If you would invest  101,884  in OSE All on November 18, 2018 and sell it today you would lose (9,348)  from holding OSE All or give up 9.18% of portfolio value over 30 days.

Pair Corralation between ATX and OSE All

0.7
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy91.3%
ValuesDaily Returns

Diversification Opportunities for ATX and OSE All

ATX diversification synergy

Poor diversification

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