Correlation Analysis Between NIKKEI 225 and NYSE

This module allows you to analyze existing cross correlation between NIKKEI 225 and NYSE. You can compare the effects of market volatilities on NIKKEI 225 and NYSE 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 NYSE. See also your portfolio center. Please also check ongoing floating volatility patterns of NIKKEI 225 and NYSE.
Horizon     30 Days    Login   to change
Symbolsvs

NIKKEI 225  vs.  NYSE

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, NIKKEI 225 is expected to under-perform the NYSE. In addition to that, NIKKEI 225 is 1.41 times more volatile than NYSE. It trades about -0.06 of its total potential returns per unit of risk. NYSE is currently generating about -0.02 per unit of volatility. If you would invest  1,243,942  in NYSE on October 14, 2018 and sell it today you would lose (9,591)  from holding NYSE or give up 0.77% of portfolio value over 30 days.

Pair Corralation between NIKKEI 225 and NYSE

0.44
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy81.82%
ValuesDaily Returns

Diversification

NIKKEI 225 diversification synergy

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding NIKKEI 225 and NYSE in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NYSE 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 NYSE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NYSE has no effect on the direction of NIKKEI 225 i.e. NIKKEI 225 and NYSE 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
$1036.05

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