Correlation Analysis Between OSE All and DOW

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

 Predicted Return Density 
      Returns 

OSE All  vs.  DOW

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, OSE All is expected to generate 1.29 times more return on investment than DOW. However, OSE All is 1.29 times more volatile than DOW. It trades about 0.03 of its potential returns per unit of risk. DOW is currently generating about -0.02 per unit of risk. If you would invest  96,449  in OSE All on September 19, 2019 and sell it today you would earn a total of  2,336  from holding OSE All or generate 2.42% return on investment over 30 days.

Pair Corralation between OSE All and DOW

0.77
Time Period3 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy98.48%
ValuesDaily Returns

Diversification Opportunities for OSE All and DOW

OSE All diversification synergy

Poor diversification

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