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
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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 generate 1.95 times less return on investment than OSE All. But when comparing it to its historical volatility, ATX is 1.42 times less risky than OSE All. It trades about 0.02 of its potential returns per unit of risk. OSE All is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest  96,449  in OSE All on September 18, 2019 and sell it today you would earn a total of  2,165  from holding OSE All or generate 2.24% return on investment over 30 days.

Pair Corralation between ATX and OSE All

0.67
Time Period3 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy87.69%
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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See also your portfolio center. Please also try Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.


 
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