Correlation Analysis Between ATX and XU100

This module allows you to analyze existing cross correlation between ATX and XU100. You can compare the effects of market volatilities on ATX and XU100 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 XU100. See also your portfolio center. Please also check ongoing floating volatility patterns of ATX and XU100.
Horizon     30 Days    Login   to change
Symbolsvs

ATX  vs.  XU100

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, ATX is expected to generate 0.96 times more return on investment than XU100. However, ATX is 1.04 times less risky than XU100. It trades about -0.1 of its potential returns per unit of risk. XU100 is currently generating about -0.11 per unit of risk. If you would invest  322,204  in ATX on November 13, 2018 and sell it today you would lose (29,215)  from holding ATX or give up 9.07% of portfolio value over 30 days.

Pair Corralation between ATX and XU100

0.33
Time Period2 Months [change]
DirectionPositive 
StrengthVery Weak
Accuracy55.32%
ValuesDaily Returns

Diversification

ATX diversification synergy

Weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding ATX and XU100 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on XU100 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 XU100. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of XU100 has no effect on the direction of ATX i.e. ATX and XU100 go up and down completely randomly.
    Optimize

Comparative Volatility

 Predicted Return Density 
      Returns 

My Equities

My Current Equities and Potential Positions

View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1060.75

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.


 
Search macroaxis.com