Correlation Analysis Between Greece TR and XU100

This module allows you to analyze existing cross correlation between Greece TR and XU100. You can compare the effects of market volatilities on Greece TR and XU100 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 XU100. See also your portfolio center. Please also check ongoing floating volatility patterns of Greece TR and XU100.
Horizon     30 Days    Login   to change
Check Efficiency

Comparative Performance

 Predicted Return Density 

Greece TR  vs.  XU100

 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Greece TR is expected to generate 0.69 times more return on investment than XU100. However, Greece TR is 1.45 times less risky than XU100. It trades about 0.09 of its potential returns per unit of risk. XU100 is currently generating about -0.01 per unit of risk. If you would invest  55,389  in Greece TR on September 19, 2019 and sell it today you would earn a total of  3,000  from holding Greece TR or generate 5.42% return on investment over 30 days.

Pair Corralation between Greece TR and XU100

Time Period3 Months [change]
StrengthVery Strong
ValuesDaily Returns

Diversification Opportunities for Greece TR and XU100

Greece TR diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding Greece TR and XU100 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on XU100 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 XU100. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of XU100 has no effect on the direction of Greece TR i.e. Greece TR and XU100 go up and down completely randomly.
See also your portfolio center. Please also try Money Managers module to screen money managers from public funds and etfs managed around the world.