Correlation Analysis Between Nasdaq and Madrid Gnrl

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

Nasdaq  vs.  Madrid Gnrl

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Nasdaq is expected to under-perform the Madrid Gnrl. In addition to that, Nasdaq is 1.96 times more volatile than Madrid Gnrl. It trades about -0.07 of its total potential returns per unit of risk. Madrid Gnrl is currently generating about 0.1 per unit of volatility. If you would invest  90,298  in Madrid Gnrl on October 13, 2018 and sell it today you would earn a total of  1,662  from holding Madrid Gnrl or generate 1.84% return on investment over 30 days.

Pair Corralation between Nasdaq and Madrid Gnrl

0.64
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Nasdaq diversification synergy

Poor diversification

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

 Predicted Return Density 
      Returns 

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1042.29

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