Correlation Analysis Between CAC 40 and Madrid Gnrl

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

CAC 40  vs.  Madrid Gnrl

 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, CAC 40 is expected to under-perform the Madrid Gnrl. In addition to that, CAC 40 is 1.21 times more volatile than Madrid Gnrl. It trades about -0.11 of its total potential returns per unit of risk. Madrid Gnrl is currently generating about 0.02 per unit of volatility. If you would invest  91,045  in Madrid Gnrl on October 17, 2018 and sell it today you would earn a total of  313.00  from holding Madrid Gnrl or generate 0.34% return on investment over 30 days.

Pair Corralation between CAC 40 and Madrid Gnrl

Time Period1 Month [change]
ValuesDaily Returns


CAC 40 diversification synergy

Poor diversification

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

Comparative Volatility

 Predicted Return Density 

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