Correlation Analysis Between CAC 40 and ATX

This module allows you to analyze existing cross correlation between CAC 40 and ATX. You can compare the effects of market volatilities on CAC 40 and ATX 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 CAC 40 with a short position of ATX. See also your portfolio center. Please also check ongoing floating volatility patterns of CAC 40 and ATX.
Horizon     30 Days    Login   to change

CAC 40  vs.  ATX

 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, CAC 40 is expected to under-perform the ATX. In addition to that, CAC 40 is 1.21 times more volatile than ATX. It trades about -0.37 of its total potential returns per unit of risk. ATX is currently generating about -0.26 per unit of volatility. If you would invest  336,785  in ATX on September 22, 2018 and sell it today you would lose (17,355)  from holding ATX or give up 5.15% of portfolio value over 30 days.

Pair Corralation between CAC 40 and ATX

Time Period1 Month [change]
ValuesDaily Returns


Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding CAC 40 and ATX in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on ATX and CAC 40 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 CAC 40 are associated (or correlated) with ATX. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ATX has no effect on the direction of CAC 40 i.e. CAC 40 and ATX go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 

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See also your portfolio center. Please also try Money Flow Index module to determine momentum by analyzing money flow index and other technical indicators.