Correlation Analysis Between DOW and SPDR DoubleLine

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

DOW  vs.  SPDR DoubleLine Shrt Term TR T

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, DOW is expected to under-perform the SPDR DoubleLine. In addition to that, DOW is 6.6 times more volatile than SPDR DoubleLine Shrt Term TR Tact ETF. It trades about -0.23 of its total potential returns per unit of risk. SPDR DoubleLine Shrt Term TR Tact ETF is currently generating about -0.03 per unit of volatility. If you would invest  4,870  in SPDR DoubleLine Shrt Term TR Tact ETF on September 23, 2018 and sell it today you would lose (4.50)  from holding SPDR DoubleLine Shrt Term TR Tact ETF or give up 0.09% of portfolio value over 30 days.

Pair Corralation between DOW and SPDR DoubleLine

0.18
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 SPDR DoubleLine Shrt Term TR T in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on SPDR DoubleLine Shrt 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 DoubleLine. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SPDR DoubleLine Shrt has no effect on the direction of DOW i.e. DOW and SPDR DoubleLine go up and down completely randomly.
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Comparative Volatility

 Predicted Return Density 
      Returns 

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Alphabet
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ExchangeNASDAQ
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