Correlation Analysis Between DOW and iShares Short

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

DOW  vs.  iShares Short Maturity Bond ET

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, DOW is expected to under-perform the iShares Short. In addition to that, DOW is 21.84 times more volatile than iShares Short Maturity Bond ETF. It trades about -0.15 of its total potential returns per unit of risk. iShares Short Maturity Bond ETF is currently generating about -0.14 per unit of volatility. If you would invest  5,016  in iShares Short Maturity Bond ETF on September 20, 2018 and sell it today you would lose (8.00)  from holding iShares Short Maturity Bond ETF or give up 0.16% of portfolio value over 30 days.

Pair Corralation between DOW and iShares Short

0.37
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Weak diversification

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

 Predicted Return Density 
      Returns 

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