Pair Correlation Between NYSE and Madrid Gnrl

This module allows you to analyze existing cross correlation between NYSE and Madrid Gnrl. You can compare the effects of market volatilities on NYSE and Madrid Gnrl 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 Madrid Gnrl. See also your portfolio center. Please also check ongoing floating volatility patterns of NYSE and Madrid Gnrl.
 Time Horizon     30 Days    Login   to change
 NYSE  vs   Madrid Gnrl
 Performance (%) 

Pair Volatility

Given the investment horizon of 30 days, NYSE is expected to generate 1.31 times more return on investment than Madrid Gnrl. However, NYSE is 1.31 times more volatile than Madrid Gnrl. It trades about -0.18 of its potential returns per unit of risk. Madrid Gnrl is currently generating about -0.32 per unit of risk. If you would invest  1,363,702  in NYSE on January 26, 2018 and sell it today you would lose (75,291)  from holding NYSE or give up 5.52% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between NYSE and Madrid Gnrl


Time Period1 Month [change]
ValuesDaily Returns


Poor diversification

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

Comparative Volatility

 Predicted Return Density