Correlation Analysis Between ISEQ and Nasdaq

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

ISEQ  vs.  Nasdaq

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, ISEQ is expected to under-perform the Nasdaq. But the index apears to be less risky and, when comparing its historical volatility, ISEQ is 1.38 times less risky than Nasdaq. The index trades about -0.2 of its potential returns per unit of risk. The Nasdaq is currently generating about -0.02 of returns per unit of risk over similar time horizon. If you would invest  784,187  in Nasdaq on July 22, 2018 and sell it today you would lose (2,554)  from holding Nasdaq or give up 0.33% of portfolio value over 30 days.

Pair Corralation between ISEQ and Nasdaq

-0.08
Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Good diversification

Overlapping area represents the amount of risk that can be diversified away by holding ISEQ and Nasdaq in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Nasdaq 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 Nasdaq. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Nasdaq has no effect on the direction of ISEQ i.e. ISEQ and Nasdaq 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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IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1207.77

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