Correlation Analysis Between IBEX 35 and Madrid Gnrl

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

IBEX 35  vs.  Madrid Gnrl

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, IBEX 35 is expected to under-perform the Madrid Gnrl. In addition to that, IBEX 35 is 1.53 times more volatile than Madrid Gnrl. It trades about -0.2 of its total potential returns per unit of risk. Madrid Gnrl is currently generating about -0.26 per unit of volatility. If you would invest  95,587  in Madrid Gnrl on September 18, 2018 and sell it today you would lose (4,542)  from holding Madrid Gnrl or give up 4.75% of portfolio value over 30 days.

Pair Corralation between IBEX 35 and Madrid Gnrl

0.0
Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding IBEX 35 and Madrid Gnrl in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Madrid Gnrl 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 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 IBEX 35 i.e. IBEX 35 and Madrid Gnrl go up and down completely randomly.
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Comparative Volatility

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