Correlation Analysis Between DOW and Equity LifeStyle

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

DOW  vs.  Equity LifeStyle Properties In

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, DOW is expected to generate 0.8 times more return on investment than Equity LifeStyle. However, DOW is 1.25 times less risky than Equity LifeStyle. It trades about 0.32 of its potential returns per unit of risk. Equity LifeStyle Properties is currently generating about 0.22 per unit of risk. If you would invest  2,573,360  in DOW on August 22, 2018 and sell it today you would earn a total of  67,216  from holding DOW or generate 2.61% return on investment over 30 days.

Pair Corralation between DOW and Equity LifeStyle

0.63
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy95.45%
ValuesDaily Returns

Diversification

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding DOW and Equity LifeStyle Properties In in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Equity LifeStyle Pro 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 Equity LifeStyle. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Equity LifeStyle Pro has no effect on the direction of DOW i.e. DOW and Equity LifeStyle 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
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1161.22

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