Correlation Analysis Between OSE All and ISEQ

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

OSE All  vs.  ISEQ

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, OSE All is expected to under-perform the ISEQ. In addition to that, OSE All is 1.14 times more volatile than ISEQ. It trades about -0.06 of its total potential returns per unit of risk. ISEQ is currently generating about 0.0 per unit of volatility. If you would invest  708,141  in ISEQ on June 18, 2018 and sell it today you would lose (1,553)  from holding ISEQ or give up 0.22% of portfolio value over 30 days.

Pair Corralation between OSE All and ISEQ

0.79
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy96.67%
ValuesDaily Returns

Diversification

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding OSE All and ISEQ in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on ISEQ 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 ISEQ. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ISEQ has no effect on the direction of OSE All i.e. OSE All and ISEQ 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
$1198.8

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 Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.