Correlation Analysis Between Nasdaq and Shanghai

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

Nasdaq  vs.  Shanghai

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Nasdaq is expected to under-perform the Shanghai. But the index apears to be less risky and, when comparing its historical volatility, Nasdaq is 1.13 times less risky than Shanghai. The index trades about -0.22 of its potential returns per unit of risk. The Shanghai is currently generating about -0.18 of returns per unit of risk over similar time horizon. If you would invest  273,055  in Shanghai on September 20, 2018 and sell it today you would lose (18,008)  from holding Shanghai or give up 6.6% of portfolio value over 30 days.

Pair Corralation between Nasdaq and Shanghai

0.87
Time Period1 Month [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification

Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Nasdaq and Shanghai in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Shanghai 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 Shanghai. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shanghai has no effect on the direction of Nasdaq i.e. Nasdaq and Shanghai 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
$1115.69

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