Correlation Analysis Between Shanghai and NIKKEI 225

This module allows you to analyze existing cross correlation between Shanghai and NIKKEI 225. You can compare the effects of market volatilities on Shanghai and NIKKEI 225 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 NIKKEI 225. See also your portfolio center. Please also check ongoing floating volatility patterns of Shanghai and NIKKEI 225.
 Time Horizon     30 Days    Login   to change
Symbolsvs

Shanghai  vs.  NIKKEI 225

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Shanghai is expected to under-perform the NIKKEI 225. In addition to that, Shanghai is 1.5 times more volatile than NIKKEI 225. It trades about -0.06 of its total potential returns per unit of risk. NIKKEI 225 is currently generating about 0.0 per unit of volatility. If you would invest  2,269,304  in NIKKEI 225 on June 21, 2018 and sell it today you would earn a total of  484.00  from holding NIKKEI 225 or generate 0.02% return on investment over 30 days.

Pair Corralation between Shanghai and NIKKEI 225

0.89
Time Period1 Month [change]
DirectionPositive 
StrengthStrong
Accuracy96.55%
ValuesDaily Returns

Diversification

Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Shanghai and NIKKEI 225 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NIKKEI 225 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 NIKKEI 225. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NIKKEI 225 has no effect on the direction of Shanghai i.e. Shanghai and NIKKEI 225 go up and down completely randomly.
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Comparative Volatility

 Predicted Return Density 
      Returns 

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See also your portfolio center. Please also try Piotroski F Score module to get piotroski f score based on binary analysis strategy of nine different fundamentals.


 
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