Correlation Analysis Between Nasdaq and Greece TR

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

Nasdaq  vs.  Greece TR

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Nasdaq is expected to generate 7.27 times less return on investment than Greece TR. But when comparing it to its historical volatility, Nasdaq is 2.9 times less risky than Greece TR. It trades about 0.06 of its potential returns per unit of risk. Greece TR is currently generating about 0.16 of returns per unit of risk over similar time horizon. If you would invest  49,357  in Greece TR on May 26, 2018 and sell it today you would earn a total of  4,254  from holding Greece TR or generate 8.62% return on investment over 30 days.

Pair Corralation between Nasdaq and Greece TR

0.74
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Poor diversification

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

 Predicted Return Density 
      Returns 

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GOOG - USA Stock
Alphabet
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IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1114.16

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See also your portfolio center. Please also try Balance Of Power module to check stock momentum by analyzing balance of power indicator and other technical ratios.