Correlation Analysis Between DOW and Shanghai

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

DOW  vs.  Shanghai

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, DOW is expected to generate 0.5 times more return on investment than Shanghai. However, DOW is 1.99 times less risky than Shanghai. It trades about 0.15 of its potential returns per unit of risk. Shanghai is currently generating about -0.06 per unit of risk. If you would invest  2,446,170  in DOW on June 21, 2018 and sell it today you would earn a total of  59,642  from holding DOW or generate 2.44% return on investment over 30 days.

Pair Corralation between DOW and Shanghai

0.89
Time Period1 Month [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification

Very poor diversification

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

 Predicted Return Density 
      Returns 

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GOOG - USA Stock
Alphabet
Specialization
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Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
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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.


 
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