Correlation Analysis Between Stockholm and NYSE

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

Stockholm  vs.  NYSE

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Stockholm is expected to under-perform the NYSE. In addition to that, Stockholm is 1.15 times more volatile than NYSE. It trades about -0.39 of its total potential returns per unit of risk. NYSE is currently generating about -0.27 per unit of volatility. If you would invest  1,316,205  in NYSE on September 22, 2018 and sell it today you would lose (70,478)  from holding NYSE or give up 5.35% of portfolio value over 30 days.

Pair Corralation between Stockholm and NYSE

0.97
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 NYSE in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NYSE 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 NYSE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NYSE has no effect on the direction of Stockholm i.e. Stockholm and NYSE go up and down completely randomly.
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Comparative Volatility

 Predicted Return Density 
      Returns 

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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.


 
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