This module allows you to analyze existing cross correlation between DOW and SPDR Portfolio Interm Term Corp Bd ETF. You can compare the effects of market volatilities on DOW and SPDR Portfolio 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 SPDR Portfolio. See also your portfolio center
. Please also check ongoing floating volatility patterns of DOW
and SPDR Portfolio
DOW vs. SPDR Portfolio Interm Term Cor
Given the investment horizon of 30 days, DOW is expected to generate 4.31 times more return on investment than SPDR Portfolio. However, DOW is 4.31 times more volatile than SPDR Portfolio Interm Term Corp Bd ETF. It trades about 0.15 of its potential returns per unit of risk. SPDR Portfolio Interm Term Corp Bd ETF is currently generating about 0.14 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 SPDR Portfolio
|Time Period||1 Month [change]|
Overlapping area represents the amount of risk that can be diversified away by holding DOW and SPDR Portfolio Interm Term Cor in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on SPDR Portfolio Interm 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 SPDR Portfolio. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SPDR Portfolio Interm has no effect on the direction of DOW i.e. DOW and SPDR Portfolio go up and down completely randomly.
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