Correlation Analysis Between Madrid Gnrl and ATX

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

Madrid Gnrl  vs.  ATX

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Madrid Gnrl is expected to generate 1.01 times more return on investment than ATX. However, Madrid Gnrl is 1.01 times more volatile than ATX. It trades about -0.05 of its potential returns per unit of risk. ATX is currently generating about -0.09 per unit of risk. If you would invest  99,564  in Madrid Gnrl on June 15, 2018 and sell it today you would lose (940.00)  from holding Madrid Gnrl or give up 0.94% of portfolio value over 30 days.

Pair Corralation between Madrid Gnrl and ATX

-0.45
Time Period1 Month [change]
DirectionNegative 
StrengthVery Weak
Accuracy78.57%
ValuesDaily Returns

Diversification

Very good diversification

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

 Predicted Return Density 
      Returns 

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ExchangeNASDAQ
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See also your portfolio center. Please also try Money Flow Index module to determine momentum by analyzing money flow index and other technical indicators.