Correlation Analysis Between NYSE and ATX

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

Comparative Performance

 Predicted Return Density 

NYSE  vs.  ATX

 Performance (%) 

Pair Volatility

Given the investment horizon of 30 days, NYSE is expected to generate 0.6 times more return on investment than ATX. However, NYSE is 1.67 times less risky than ATX. It trades about -0.17 of its potential returns per unit of risk. ATX is currently generating about -0.1 per unit of risk. If you would invest  1,245,727  in NYSE on November 19, 2018 and sell it today you would lose (95,511)  from holding NYSE or give up 7.67% of portfolio value over 30 days.

Pair Corralation between NYSE and ATX

Time Period2 Months [change]
ValuesDaily Returns

Diversification Opportunities for NYSE and ATX

NYSE diversification synergy

Very weak diversification

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

Thematic Opportunities

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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.