Correlation Analysis Between Stockholm and IPC

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

Stockholm  vs.  IPC

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Stockholm is expected to generate 0.63 times more return on investment than IPC. However, Stockholm is 1.59 times less risky than IPC. It trades about -0.04 of its potential returns per unit of risk. IPC is currently generating about -0.18 per unit of risk. If you would invest  56,353  in Stockholm on November 12, 2018 and sell it today you would lose (1,307)  from holding Stockholm or give up 2.32% of portfolio value over 30 days.

Pair Corralation between Stockholm and IPC

0.68
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy97.67%
ValuesDaily Returns

Diversification

Stockholm diversification synergy

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Stockholm and IPC in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on IPC 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 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 Stockholm i.e. Stockholm and IPC go up and down completely randomly.
    Optimize

Comparative Volatility

 Predicted Return Density 
      Returns 

My Equities

My Current Equities and Potential Positions

View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1072.25

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of macroaxis ideas.


 
Search macroaxis.com