Correlation Analysis Between NZSE and IPC

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

NZSE  vs.  IPC

 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, NZSE is expected to generate 0.34 times more return on investment than IPC. However, NZSE is 2.98 times less risky than IPC. It trades about -0.08 of its potential returns per unit of risk. IPC is currently generating about -0.3 per unit of risk. If you would invest  891,179  in NZSE on October 17, 2018 and sell it today you would lose (10,209)  from holding NZSE or give up 1.15% of portfolio value over 30 days.

Pair Corralation between NZSE and IPC

Time Period1 Month [change]
ValuesDaily Returns


NZSE diversification synergy

Pay attention

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

Comparative Volatility

 Predicted Return Density 

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See also your portfolio center. Please also try Coins and Tokens Correlation module to utilize digital token correlation table to build portfolio of cryptocurrencies across multiple exchanges.