Pair Correlation Between NIKKEI 225 and Stockholm

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

NIKKEI 225  vs.  Stockholm

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, NIKKEI 225 is expected to generate 1.5 times less return on investment than Stockholm. In addition to that, NIKKEI 225 is 1.22 times more volatile than Stockholm. It trades about 0.02 of its total potential returns per unit of risk. Stockholm is currently generating about 0.04 per unit of volatility. If you would invest  57,245  in Stockholm on March 25, 2018 and sell it today you would earn a total of  834.74  from holding Stockholm or generate 1.46% return on investment over 30 days.

Pair Corralation between NIKKEI 225 and Stockholm

0.85
Time Period2 Months [change]
DirectionPositive 
StrengthStrong
Accuracy90.57%
ValuesDaily Returns

Diversification

Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding NIKKEI 225 and Stockholm in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Stockholm 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 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 NIKKEI 225 i.e. NIKKEI 225 and Stockholm go up and down completely randomly.
    Optimize

Comparative Volatility

 Predicted Return Density 
      Returns 

My Equities

My Current Equities and Potential Positions
View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$0.0
Alphabet cannot be verified against its exchange. It appears that Alphabet is not available for investing at this time. Please verify the symbol is currently traded on NASDAQ. If you still believe the symbol you are trying to look up is valid please let us know and we will check it as soon as possible.

Try Other Suggestions

GTVJXGoldman Sachs Target Date 2030Fund
GTVMXGoldman Sachs Target Date 2040Fund
GTVOXGoldman Sachs Target Date 2035Fund
GTVSXGoldman Sachs Target Date 2050Fund
FPPXXGovernment Obligations Fund ClFund
ELKMFGold Road Resources LimitedStock
GCGAXGoldman Sachs Concentrated GroFund

Thematic Opportunities

Explore Investment Opportunities
Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Content Syndication module to quickly integrate customizable finance content to your own investment portal.