Correlation Analysis Between Stockholm and All Ords

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

Stockholm  vs.  All Ords

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Stockholm is expected to generate 0.94 times more return on investment than All Ords. However, Stockholm is 1.07 times less risky than All Ords. It trades about -0.14 of its potential returns per unit of risk. All Ords is currently generating about -0.14 per unit of risk. If you would invest  57,212  in Stockholm on October 18, 2018 and sell it today you would lose (1,776)  from holding Stockholm or give up 3.1% of portfolio value over 30 days.

Pair Corralation between Stockholm and All Ords

0.41
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy82.61%
ValuesDaily Returns

Diversification

Stockholm diversification synergy

Very weak diversification

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

 Predicted Return Density 
      Returns 

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GOOG - USA Stock
Alphabet
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IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1061.49

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