Correlation Analysis Between DOW and iPath Seasonal

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

DOW  vs.  iPath Seasonal Natural Gas ETN

 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  2,504,429  in DOW on July 22, 2018 and sell it today you would earn a total of  71,440  from holding DOW or generate 2.85% return on investment over 30 days.

Pair Corralation between DOW and iPath Seasonal

-0.4
Time Period1 Month [change]
DirectionNegative 
StrengthVery Weak
Accuracy4.55%
ValuesDaily Returns

Diversification

Very good diversification

Overlapping area represents the amount of risk that can be diversified away by holding DOW and iPath Seasonal Natural Gas ETN in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on iPath Seasonal Natural 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 iPath Seasonal. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of iPath Seasonal Natural has no effect on the direction of DOW i.e. DOW and iPath Seasonal 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 Cryptocurrency Correlation module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins and exchanges.