Correlation Analysis Between Madrid Gnrl and ISEQ

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

Comparative Performance

 Predicted Return Density 

Madrid Gnrl  vs.  ISEQ

 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Madrid Gnrl is expected to generate 0.74 times more return on investment than ISEQ. However, Madrid Gnrl is 1.35 times less risky than ISEQ. It trades about -0.01 of its potential returns per unit of risk. ISEQ is currently generating about -0.16 per unit of risk. If you would invest  90,298  in Madrid Gnrl on November 14, 2018 and sell it today you would lose (513.00)  from holding Madrid Gnrl or give up 0.57% of portfolio value over 30 days.

Pair Corralation between Madrid Gnrl and ISEQ

Time Period2 Months [change]
ValuesDaily Returns

Diversification Opportunities for Madrid Gnrl and ISEQ

Madrid Gnrl diversification synergy

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Madrid Gnrl and ISEQ in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on ISEQ 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 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 Madrid Gnrl i.e. Madrid Gnrl and ISEQ go up and down completely randomly.

Thematic Opportunities

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See also your portfolio center. Please also try Cryptocurrency Correlation module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins and exchanges.