Pair Correlation Between BSE and Greece TR

This module allows you to analyze existing cross correlation between BSE and Greece TR. You can compare the effects of market volatilities on BSE and Greece TR 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 BSE with a short position of Greece TR. See also your portfolio center. Please also check ongoing floating volatility patterns of BSE and Greece TR.
 Time Horizon     30 Days    Login   to change
Symbolsvs

BSE  vs.  Greece TR

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, BSE is expected to generate 0.61 times more return on investment than Greece TR. However, BSE is 1.64 times less risky than Greece TR. It trades about 0.04 of its potential returns per unit of risk. Greece TR is currently generating about -0.03 per unit of risk. If you would invest  3,377,466  in BSE on March 20, 2018 and sell it today you would earn a total of  55,702  from holding BSE or generate 1.65% return on investment over 30 days.

Pair Corralation between BSE and Greece TR

0.65
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy87.27%
ValuesDaily Returns

Diversification

Poor diversification

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

 Predicted Return Density 
      Returns 

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See also your portfolio center. Please also try Volatility Analysis module to get historical volatility and risk analysis based on latest market data.