Correlation Analysis Between Bovespa and ISEQ

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

Bovespa  vs.  ISEQ

 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Bovespa is expected to generate 1.12 times more return on investment than ISEQ. However, Bovespa is 1.12 times more volatile than ISEQ. It trades about 0.04 of its potential returns per unit of risk. ISEQ is currently generating about -0.15 per unit of risk. If you would invest  8,499,572  in Bovespa on October 16, 2018 and sell it today you would earn a total of  97,728  from holding Bovespa or generate 1.15% return on investment over 30 days.

Pair Corralation between Bovespa and ISEQ

Time Period1 Month [change]
ValuesDaily Returns


Bovespa diversification synergy

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 

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See also your portfolio center. Please also try Money Flow Index module to determine momentum by analyzing money flow index and other technical indicators.