Correlation Analysis Between Hang Seng and NYSE

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

Hang Seng  vs.  NYSE

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Hang Seng is expected to under-perform the NYSE. In addition to that, Hang Seng is 1.49 times more volatile than NYSE. It trades about -0.17 of its total potential returns per unit of risk. NYSE is currently generating about 0.1 per unit of volatility. If you would invest  1,263,957  in NYSE on June 22, 2018 and sell it today you would earn a total of  15,034  from holding NYSE or generate 1.19% return on investment over 30 days.

Pair Corralation between Hang Seng and NYSE

0.52
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy80.0%
ValuesDaily Returns

Diversification

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Hang Seng and NYSE in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NYSE and Hang Seng 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 Hang Seng are associated (or correlated) with NYSE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NYSE has no effect on the direction of Hang Seng i.e. Hang Seng and NYSE 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 Bollinger Bands module to use bollinger bands indicator to analyze target price for a given investing horizon.


 
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