Correlation Analysis Between IPC and Stockholm

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

IPC  vs.  Stockholm

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, IPC is expected to under-perform the Stockholm. In addition to that, IPC is 1.62 times more volatile than Stockholm. It trades about -0.18 of its total potential returns per unit of risk. Stockholm is currently generating about -0.09 per unit of volatility. If you would invest  56,753  in Stockholm on November 11, 2018 and sell it today you would lose (2,626)  from holding Stockholm or give up 4.63% of portfolio value over 30 days.

Pair Corralation between IPC and Stockholm

0.68
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy97.67%
ValuesDaily Returns

Diversification

IPC diversification synergy

Poor diversification

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

 Predicted Return Density 
      Returns 

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See also your portfolio center. Please also try Pair Correlation module to compare performance and examine historical correlation between any two equity instruments.


 
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