Pair Correlation Between IBEX 35 and All Ords

This module allows you to analyze existing cross correlation between IBEX 35 and All Ords. You can compare the effects of market volatilities on IBEX 35 and All Ords 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 IBEX 35 with a short position of All Ords. See also your portfolio center. Please also check ongoing floating volatility patterns of IBEX 35 and All Ords.
 Time Horizon     30 Days    Login   to change

IBEX 35  vs.  All Ords

 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, IBEX 35 is expected to generate 1.23 times more return on investment than All Ords. However, IBEX 35 is 1.23 times more volatile than All Ords. It trades about 0.02 of its potential returns per unit of risk. All Ords is currently generating about -0.06 per unit of risk. If you would invest  980,620  in IBEX 35 on March 20, 2018 and sell it today you would earn a total of  5,110  from holding IBEX 35 or generate 0.52% return on investment over 30 days.

Pair Corralation between IBEX 35 and All Ords

Time Period2 Months [change]
StrengthVery Strong
ValuesDaily Returns


Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding IBEX 35 and All Ords in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on All Ords and IBEX 35 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 IBEX 35 are associated (or correlated) with All Ords. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of All Ords has no effect on the direction of IBEX 35 i.e. IBEX 35 and All Ords go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 

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