Correlation Analysis Between OSE All and Nasdaq

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

 Predicted Return Density 
      Returns 

OSE All  vs.  Nasdaq

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, OSE All is expected to generate 0.79 times more return on investment than Nasdaq. However, OSE All is 1.26 times less risky than Nasdaq. It trades about -0.14 of its potential returns per unit of risk. Nasdaq is currently generating about -0.12 per unit of risk. If you would invest  102,903  in OSE All on November 16, 2018 and sell it today you would lose (8,999)  from holding OSE All or give up 8.75% of portfolio value over 30 days.

Pair Corralation between OSE All and Nasdaq

0.74
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy95.45%
ValuesDaily Returns

Diversification Opportunities for OSE All and Nasdaq

OSE All diversification synergy

Poor diversification

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