Pair Correlation Between Madrid Gnrl and IPC

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

Madrid Gnrl  vs.  IPC

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Madrid Gnrl is expected to generate 0.83 times more return on investment than IPC. However, Madrid Gnrl is 1.2 times less risky than IPC. It trades about 0.01 of its potential returns per unit of risk. IPC is currently generating about -0.04 per unit of risk. If you would invest  100,303  in Madrid Gnrl on March 24, 2018 and sell it today you would earn a total of  141.00  from holding Madrid Gnrl or generate 0.14% return on investment over 30 days.

Pair Corralation between Madrid Gnrl and IPC

-0.34
Time Period2 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy83.67%
ValuesDaily Returns

Diversification

Very good diversification

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

 Predicted Return Density 
      Returns 

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