Correlation Analysis Between IPC and BSE

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

IPC  vs.  BSE

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, IPC is expected to under-perform the BSE. In addition to that, IPC is 1.67 times more volatile than BSE. It trades about -0.16 of its total potential returns per unit of risk. BSE is currently generating about 0.08 per unit of volatility. If you would invest  3,400,115  in BSE on November 10, 2018 and sell it today you would earn a total of  95,857  from holding BSE or generate 2.82% return on investment over 30 days.

Pair Corralation between IPC and BSE

-0.16
Time Period2 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy85.71%
ValuesDaily Returns

Diversification

IPC diversification synergy

Good diversification

Overlapping area represents the amount of risk that can be diversified away by holding IPC and BSE in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on BSE and IPC 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 IPC are associated (or correlated) with BSE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BSE has no effect on the direction of IPC i.e. IPC and BSE 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
$1038.27

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See also your portfolio center. Please also try Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.


 
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