Correlation Analysis Between Shanghai and Nasdaq

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

Shanghai  vs.  Nasdaq

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Shanghai is expected to generate 1.22 times more return on investment than Nasdaq. However, Shanghai is 1.22 times more volatile than Nasdaq. It trades about -0.08 of its potential returns per unit of risk. Nasdaq is currently generating about -0.22 per unit of risk. If you would invest  265,109  in Shanghai on September 16, 2018 and sell it today you would lose (8,101)  from holding Shanghai or give up 3.06% of portfolio value over 30 days.

Pair Corralation between Shanghai and Nasdaq

0.0
Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Pay attention

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

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