Correlation Analysis Between Greece TR and Nasdaq

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

Greece TR  vs.  Nasdaq

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Greece TR is expected to under-perform the Nasdaq. In addition to that, Greece TR is 1.83 times more volatile than Nasdaq. It trades about -0.23 of its total potential returns per unit of risk. Nasdaq is currently generating about -0.23 per unit of volatility. If you would invest  798,696  in Nasdaq on September 21, 2018 and sell it today you would lose (57,404)  from holding Nasdaq or give up 7.19% of portfolio value over 30 days.

Pair Corralation between Greece TR and Nasdaq

0.79
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Greece TR and Nasdaq in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Nasdaq 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 Nasdaq. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Nasdaq has no effect on the direction of Greece TR i.e. Greece TR and Nasdaq 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
$1096.46

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