Correlation Analysis Between Madrid Gnrl and Stockholm

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

Madrid Gnrl  vs.  Stockholm

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Madrid Gnrl is expected to generate 0.92 times more return on investment than Stockholm. However, Madrid Gnrl is 1.09 times less risky than Stockholm. It trades about 0.06 of its potential returns per unit of risk. Stockholm is currently generating about -0.02 per unit of risk. If you would invest  90,298  in Madrid Gnrl on October 14, 2018 and sell it today you would earn a total of  1,059  from holding Madrid Gnrl or generate 1.17% return on investment over 30 days.

Pair Corralation between Madrid Gnrl and Stockholm

0.8
Time Period1 Month [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification

Madrid Gnrl diversification synergy

Very poor diversification

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

 Predicted Return Density 
      Returns 

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GOOG - USA Stock
Alphabet
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IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1036.05

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