Pair Correlation Between EURONEXT BEL-20 and SP 500

This module allows you to analyze existing cross correlation between EURONEXT BEL-20 and S&P 500. You can compare the effects of market volatilities on EURONEXT BEL-20 and SP 500 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 EURONEXT BEL-20 with a short position of SP 500. See also your portfolio center. Please also check ongoing floating volatility patterns of EURONEXT BEL-20 and SP 500.
 Time Horizon     30 Days    Login   to change
 EURONEXT BEL-20  vs   S&P 500
 Performance (%) 

Pair Volatility

Given the investment horizon of 30 days, EURONEXT BEL-20 is expected to generate 1.2 times less return on investment than SP 500. In addition to that, EURONEXT BEL-20 is 1.06 times more volatile than S&P 500. It trades about 0.42 of its total potential returns per unit of risk. S&P 500 is currently generating about 0.53 per unit of volatility. If you would invest  267,925  in S&P 500 on December 20, 2017 and sell it today you would earn a total of  11,878  from holding S&P 500 or generate 4.43% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between EURONEXT BEL-20 and SP 500


Time Period1 Month [change]
StrengthVery Strong
ValuesDaily Returns


Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding EURONEXT BEL-20 and S&P 500 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on SP 500 and EURONEXT BEL-20 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 EURONEXT BEL-20 are associated (or correlated) with SP 500. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SP 500 has no effect on the direction of EURONEXT BEL-20 i.e. EURONEXT BEL-20 and SP 500 go up and down completely randomly.

Comparative Volatility

 Predicted Return Density