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
Symbolsvs

EURONEXT BEL-20  vs.  NYSE

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, EURONEXT BEL-20 is expected to generate 0.99 times more return on investment than NYSE. However, EURONEXT BEL-20 is 1.01 times less risky than NYSE. It trades about -0.01 of its potential returns per unit of risk. NYSE is currently generating about -0.08 per unit of risk. If you would invest  356,394  in EURONEXT BEL-20 on October 17, 2018 and sell it today you would lose (1,409)  from holding EURONEXT BEL-20 or give up 0.4% of portfolio value over 30 days.

Pair Corralation between EURONEXT BEL-20 and NYSE

0.86
Time Period1 Month [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification

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.
    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
$1064.71

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 Price Transformation module to use price transformation models to analyze depth of different equity instruments across global markets.


 
Search macroaxis.com