Correlation Analysis Between BSE and Madrid Gnrl

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

BSE  vs.  Madrid Gnrl

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, BSE is expected to under-perform the Madrid Gnrl. But the index apears to be less risky and, when comparing its historical volatility, BSE is 1.09 times less risky than Madrid Gnrl. The index trades about -0.23 of its potential returns per unit of risk. The Madrid Gnrl is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest  96,815  in Madrid Gnrl on August 22, 2018 and sell it today you would earn a total of  207.00  from holding Madrid Gnrl or generate 0.21% return on investment over 30 days.

Pair Corralation between BSE and Madrid Gnrl

0.15
Time Period1 Month [change]
DirectionPositive 
StrengthInsignificant
Accuracy95.45%
ValuesDaily Returns

Diversification

Average diversification

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

 Predicted Return Density 
      Returns 

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