This module allows you to analyze existing cross correlation between Taiwan Wtd and NZSE. You can compare the effects of market volatilities on Taiwan Wtd and NZSE 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 Taiwan Wtd with a short position of NZSE. See also your portfolio center. Please also check ongoing floating volatility patterns of Taiwan Wtd and NZSE.
|Horizon||30 Days Login to change|
Predicted Return Density
Taiwan Wtd vs. NZSE
Assuming 30 trading days horizon, Taiwan Wtd is expected to generate 0.91 times more return on investment than NZSE. However, Taiwan Wtd is 1.1 times less risky than NZSE. It trades about 0.06 of its potential returns per unit of risk. NZSE is currently generating about 0.04 per unit of risk. If you would invest 1,093,576 in Taiwan Wtd on September 21, 2019 and sell it today you would earn a total of 24,839 from holding Taiwan Wtd or generate 2.27% return on investment over 30 days.
Pair Corralation between Taiwan Wtd and NZSE
|Time Period||3 Months [change]|
Diversification Opportunities for Taiwan Wtd and NZSE
Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding Taiwan Wtd and NZSE in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NZSE and Taiwan Wtd 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 Taiwan Wtd are associated (or correlated) with NZSE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NZSE has no effect on the direction of Taiwan Wtd i.e. Taiwan Wtd and NZSE go up and down completely randomly.
See also your portfolio center. Please also try Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.