Correlation Analysis Between Hang Seng and Madrid Gnrl

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

Hang Seng  vs.  Madrid Gnrl

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Hang Seng is expected to under-perform the Madrid Gnrl. In addition to that, Hang Seng is 2.0 times more volatile than Madrid Gnrl. It trades about -0.13 of its total potential returns per unit of risk. Madrid Gnrl is currently generating about -0.19 per unit of volatility. If you would invest  95,136  in Madrid Gnrl on September 17, 2018 and sell it today you would lose (3,398)  from holding Madrid Gnrl or give up 3.57% of portfolio value over 30 days.

Pair Corralation between Hang Seng and Madrid Gnrl

0.89
Time Period1 Month [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification

Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Hang Seng and Madrid Gnrl in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Madrid Gnrl 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 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 Hang Seng i.e. Hang Seng and Madrid Gnrl go up and down completely randomly.
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Comparative Volatility

 Predicted Return Density 
      Returns 

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