Correlation Analysis Between Russell 2000 and Greece TR

This module allows you to analyze existing cross correlation between Russell 2000 and Greece TR. You can compare the effects of market volatilities on Russell 2000 and Greece TR 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 Russell 2000 with a short position of Greece TR. See also your portfolio center. Please also check ongoing floating volatility patterns of Russell 2000 and Greece TR.
Horizon     30 Days    Login   to change
Symbolsvs

Russell 2000   vs.  Greece TR

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Russell 2000 is expected to under-perform the Greece TR. But the index apears to be less risky and, when comparing its historical volatility, Russell 2000 is 1.15 times less risky than Greece TR. The index trades about -0.1 of its potential returns per unit of risk. The Greece TR is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest  42,223  in Greece TR on November 10, 2018 and sell it today you would earn a total of  104.00  from holding Greece TR or generate 0.25% return on investment over 30 days.

Pair Corralation between Russell 2000 and Greece TR

0.22
Time Period2 Months [change]
DirectionPositive 
StrengthVery Weak
Accuracy95.45%
ValuesDaily Returns

Diversification

Russell 2000  diversification synergy

Modest diversification

Overlapping area represents the amount of risk that can be diversified away by holding Russell 2000 and Greece TR in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Greece TR and Russell 2000 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 Russell 2000 are associated (or correlated) with Greece TR. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Greece TR has no effect on the direction of Russell 2000 i.e. Russell 2000 and Greece TR go up and down completely randomly.
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Comparative Volatility

 Predicted Return Density 
      Returns 

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ExchangeNASDAQ
$1038.25

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