Correlation Analysis Between Stockholm and SP 500

This module allows you to analyze existing cross correlation between Stockholm and S&P 500. You can compare the effects of market volatilities on Stockholm and SP 500 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 SP 500. See also your portfolio center. Please also check ongoing floating volatility patterns of Stockholm and SP 500.
Horizon     30 Days    Login   to change
Symbolsvs

Stockholm  vs.  S&P 500

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Stockholm is expected to under-perform the SP 500. In addition to that, Stockholm is 1.09 times more volatile than S&P 500. It trades about -0.24 of its total potential returns per unit of risk. S&P 500 is currently generating about -0.19 per unit of volatility. If you would invest  290,431  in S&P 500 on September 19, 2018 and sell it today you would lose (13,653)  from holding S&P 500 or give up 4.7% of portfolio value over 30 days.

Pair Corralation between Stockholm and SP 500

0.96
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding Stockholm and S&P 500 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on SP 500 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 SP 500. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SP 500 has no effect on the direction of Stockholm i.e. Stockholm and SP 500 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
$1096.46

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See also your portfolio center. Please also try Bollinger Bands module to use bollinger bands indicator to analyze target price for a given investing horizon.


 
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