Pair Correlation Between ISEQ and SP 500

This module allows you to analyze existing cross correlation between ISEQ and S&P 500. You can compare the effects of market volatilities on ISEQ and SP 500 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 ISEQ with a short position of SP 500. See also your portfolio center. Please also check ongoing floating volatility patterns of ISEQ and SP 500.
 Time Horizon     30 Days    Login   to change
Symbolsvs

ISEQ  vs.  S&P 500

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, ISEQ is expected to generate 0.47 times more return on investment than SP 500. However, ISEQ is 2.11 times less risky than SP 500. It trades about 0.01 of its potential returns per unit of risk. S&P 500 is currently generating about -0.07 per unit of risk. If you would invest  673,827  in ISEQ on March 27, 2018 and sell it today you would earn a total of  1,840  from holding ISEQ or generate 0.27% return on investment over 30 days.

Pair Corralation between ISEQ and SP 500

0.87
Time Period2 Months [change]
DirectionPositive 
StrengthStrong
Accuracy97.96%
ValuesDaily Returns

Diversification

Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding ISEQ and S&P 500 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on SP 500 and ISEQ 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 ISEQ are associated (or correlated) with SP 500. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SP 500 has no effect on the direction of ISEQ i.e. ISEQ and SP 500 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
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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.