Correlation Between ATX and Romanian Traded

By analyzing existing cross correlation between ATX and Romanian Traded Index you can compare the effects of market volatilities on ATX and Romanian Traded 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 Romanian Traded. Check out your portfolio center. Please also check ongoing floating volatility patterns of ATX and Romanian Traded.

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Can any of the company-specific risk be diversified away by investing in both ATX and Romanian Traded at the same time? Although using correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combing ATX and Romanian Traded into the same portfolio which is an essential part of fundamental portfolio management process.

Diversification Opportunities for ATX and Romanian Traded

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Correlation
ATX
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Pay attention - limited upside

The 3 months correlation between ATX and Romanian is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding ATX and Romanian Traded Index In RON in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Romanian Traded Index 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 Romanian Traded. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Romanian Traded Index has no effect on the direction of ATX i.e. ATX and Romanian Traded go up and down completely randomly.
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Pair Corralation between ATX and Romanian Traded

If you would invest  0.00  in Romanian Traded Index on April 28, 2020 and sell it today you would earn a total of  0.00  from holding Romanian Traded Index or generate 0.0% return on investment over 30 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy1.61%
ValuesDaily Returns

ATX  vs.  Romanian Traded Index In RON

 Performance (%) 
      Timeline 
 Predicted Return Density 
      Returns 
Check out your portfolio center. Please also try Chance of Distress module to get analysis of equity chance of financial distress in the next 2 years.


 
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