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
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Comparative Performance

 Predicted Return Density 
      Returns 

BSE  vs.  Madrid Gnrl

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, BSE is expected to generate 1.1 times more return on investment than Madrid Gnrl. However, BSE is 1.1 times more volatile than Madrid Gnrl. It trades about 0.09 of its potential returns per unit of risk. Madrid Gnrl is currently generating about -0.01 per unit of risk. If you would invest  3,473,751  in BSE on November 14, 2018 and sell it today you would earn a total of  122,542  from holding BSE or generate 3.53% return on investment over 30 days.

Pair Corralation between BSE and Madrid Gnrl

0.05
Time Period2 Months [change]
DirectionPositive 
StrengthInsignificant
Accuracy80.0%
ValuesDaily Returns

Diversification Opportunities for BSE and Madrid Gnrl

BSE diversification synergy

Significant 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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See also your portfolio center. Please also try Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.


 
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