Correlation Analysis Between CAC 40 and Greece TR

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

 Predicted Return Density 
      Returns 

CAC 40  vs.  Greece TR

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, CAC 40 is expected to under-perform the Greece TR. But the index apears to be less risky and, when comparing its historical volatility, CAC 40 is 1.59 times less risky than Greece TR. The index trades about -0.12 of its potential returns per unit of risk. The Greece TR is currently generating about -0.03 of returns per unit of risk over similar time horizon. If you would invest  43,674  in Greece TR on November 15, 2018 and sell it today you would lose (1,152)  from holding Greece TR or give up 2.64% of portfolio value over 30 days.

Pair Corralation between CAC 40 and Greece TR

0.03
Time Period2 Months [change]
DirectionPositive 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for CAC 40 and Greece TR

CAC 40 diversification synergy

Significant diversification

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


 
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