Correlation Analysis Between Russia TR and IBEX 35

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

Russia TR  vs.  IBEX 35

 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Russia TR is expected to generate 1.34 times more return on investment than IBEX 35. However, Russia TR is 1.34 times more volatile than IBEX 35. It trades about 0.45 of its potential returns per unit of risk. IBEX 35 is currently generating about -0.07 per unit of risk. If you would invest  107,671  in Russia TR on August 26, 2018 and sell it today you would earn a total of  12,616  from holding Russia TR or generate 11.72% return on investment over 30 days.

Pair Corralation between Russia TR and IBEX 35

Time Period1 Month [change]
ValuesDaily Returns


Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Russia TR and IBEX 35 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on IBEX 35 and Russia 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 Russia 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 Russia TR i.e. Russia TR and IBEX 35 go up and down completely randomly.

Comparative Volatility

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