Correlation Analysis Between NIKKEI 225 and OSE All

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

NIKKEI 225  vs.  OSE All

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, NIKKEI 225 is expected to generate 0.94 times more return on investment than OSE All. However, NIKKEI 225 is 1.06 times less risky than OSE All. It trades about 0.29 of its potential returns per unit of risk. OSE All is currently generating about 0.11 per unit of risk. If you would invest  2,279,964  in NIKKEI 225 on August 25, 2018 and sell it today you would earn a total of  107,029  from holding NIKKEI 225 or generate 4.69% return on investment over 30 days.

Pair Corralation between NIKKEI 225 and OSE All

0.0
Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy95.24%
ValuesDaily Returns

Diversification

Pay attention

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

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