Correlation Analysis Between SPTSX Comp and ATX

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

SPTSX Comp  vs.  ATX

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, SPTSX Comp is expected to generate 60.0 times less return on investment than ATX. In addition to that, SPTSX Comp is 1.34 times more volatile than ATX. It trades about 0.0 of its total potential returns per unit of risk. ATX is currently generating about 0.04 per unit of volatility. If you would invest  328,674  in ATX on June 22, 2018 and sell it today you would earn a total of  2,180  from holding ATX or generate 0.66% return on investment over 30 days.

Pair Corralation between SPTSX Comp and ATX

0.75
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy96.67%
ValuesDaily Returns

Diversification

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding SPTSX Comp and ATX in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on ATX and SPTSX Comp 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 SPTSX Comp 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 SPTSX Comp i.e. SPTSX Comp and ATX 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
$1186.96

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See also your portfolio center. Please also try Cryptocurrency Correlation module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins and exchanges.


 
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