Correlation Analysis Between EURONEXT BEL-20 and NYSE

This module allows you to analyze existing cross correlation between EURONEXT BEL-20 and NYSE. You can compare the effects of market volatilities on EURONEXT BEL-20 and NYSE 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 NYSE. See also your portfolio center. Please also check ongoing floating volatility patterns of EURONEXT BEL-20 and NYSE.
Horizon     30 Days    Login   to change
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Comparative Performance

 Predicted Return Density 
      Returns 

EURONEXT BEL-20  vs.  NYSE

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, EURONEXT BEL-20 is expected to generate 1.14 times more return on investment than NYSE. However, EURONEXT BEL-20 is 1.14 times more volatile than NYSE. It trades about 0.01 of its potential returns per unit of risk. NYSE is currently generating about -0.01 per unit of risk. If you would invest  372,647  in EURONEXT BEL-20 on September 22, 2019 and sell it today you would earn a total of  2,646  from holding EURONEXT BEL-20 or generate 0.71% return on investment over 30 days.

Pair Corralation between EURONEXT BEL-20 and NYSE

0.86
Time Period3 Months [change]
DirectionPositive 
StrengthStrong
Accuracy98.46%
ValuesDaily Returns

Diversification Opportunities for EURONEXT BEL-20 and NYSE

EURONEXT BEL-20 diversification synergy

Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding EURONEXT BEL-20 and NYSE in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NYSE 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 NYSE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NYSE has no effect on the direction of EURONEXT BEL-20 i.e. EURONEXT BEL-20 and NYSE go up and down completely randomly.
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See also your portfolio center. Please also try Bollinger Bands module to use bollinger bands indicator to analyze target price for a given investing horizon.


 
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