Correlation Analysis Between DOW and iPath SP

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

DOW  vs.  iPath SP GSCI Crude Oil TR ETN

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, DOW is expected to generate 2270.8 times less return on investment than iPath SP. But when comparing it to its historical volatility, DOW is 1266.36 times less risky than iPath SP. It trades about 0.32 of its potential returns per unit of risk. iPath SP GSCI Crude Oil TR ETN is currently generating about 0.57 of returns per unit of risk over similar time horizon. If you would invest  179,833  in iPath SP GSCI Crude Oil TR ETN on August 25, 2018 and sell it today you would lose (179,071)  from holding iPath SP GSCI Crude Oil TR ETN or give up 99.58% of portfolio value over 30 days.

Pair Corralation between DOW and iPath SP

0.19
Time Period1 Month [change]
DirectionPositive 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Average diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

My Equities

My Current Equities and Potential Positions

View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1166.09

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.


 
Search macroaxis.com