Correlation Analysis Between Greece TR and IBEX 35

This module allows you to analyze existing cross correlation between Greece TR and IBEX 35. You can compare the effects of market volatilities on Greece TR and IBEX 35 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 Greece TR with a short position of IBEX 35. See also your portfolio center. Please also check ongoing floating volatility patterns of Greece TR and IBEX 35.
Horizon     30 Days    Login   to change
Symbolsvs
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Comparative Performance

 Predicted Return Density 
      Returns 

Greece TR  vs.  IBEX 35

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Greece TR is expected to generate 1.44 times more return on investment than IBEX 35. However, Greece TR is 1.44 times more volatile than IBEX 35. It trades about 0.06 of its potential returns per unit of risk. IBEX 35 is currently generating about 0.04 per unit of risk. If you would invest  55,389  in Greece TR on September 17, 2019 and sell it today you would earn a total of  2,032  from holding Greece TR or generate 3.67% return on investment over 30 days.

Pair Corralation between Greece TR and IBEX 35

-0.35
Time Period3 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy56.25%
ValuesDaily Returns

Diversification Opportunities for Greece TR and IBEX 35

Greece TR diversification synergy

Very good diversification

Overlapping area represents the amount of risk that can be diversified away by holding Greece TR and IBEX 35 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on IBEX 35 and Greece TR 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 Greece TR are associated (or correlated) with IBEX 35. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of IBEX 35 has no effect on the direction of Greece TR i.e. Greece TR and IBEX 35 go up and down completely randomly.
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See also your portfolio center. Please also try Cryptocurrency Correlation module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins and exchanges.


 
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