- Companies in United States
- Peer Analysis
This module allows you to analyze existing cross correlation between NIKKEI 225 and ATX. You can compare the effects of market volatilities on NIKKEI 225 and ATX 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 NIKKEI 225 with a short position of ATX. See also your portfolio center. Please also check ongoing floating volatility patterns of NIKKEI 225 and ATX.
|Horizon||30 Days Login to change|
Predicted Return Density
NIKKEI 225 vs. ATX
Assuming 30 trading days horizon, NIKKEI 225 is expected to generate 0.75 times more return on investment than ATX. However, NIKKEI 225 is 1.33 times less risky than ATX. It trades about -0.1 of its potential returns per unit of risk. ATX is currently generating about -0.11 per unit of risk. If you would invest 2,201,078 in NIKKEI 225 on November 18, 2018 and sell it today you would lose (107,829) from holding NIKKEI 225 or give up 4.9% of portfolio value over 30 days.
Pair Corralation between NIKKEI 225 and ATX
|Time Period||2 Months [change]|
Diversification Opportunities for NIKKEI 225 and ATX
Overlapping area represents the amount of risk that can be diversified away by holding NIKKEI 225 and ATX in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on ATX and NIKKEI 225 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 NIKKEI 225 are associated (or correlated) with ATX. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ATX has no effect on the direction of NIKKEI 225 i.e. NIKKEI 225 and ATX go up and down completely randomly.