Correlation Analysis Between ALTIUS MINERALS and XU100

This module allows you to analyze existing cross correlation between ALTIUS MINERALS CORPORATION and XU100. You can compare the effects of market volatilities on ALTIUS MINERALS and XU100 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 ALTIUS MINERALS with a short position of XU100. See also your portfolio center. Please also check ongoing floating volatility patterns of ALTIUS MINERALS and XU100.
Horizon     30 Days    Login   to change
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Comparative Performance

 Predicted Return Density 
      Returns 

ALTIUS MINERALS CORPORATION  vs.  XU100

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, ALTIUS MINERALS is expected to generate 6.64 times less return on investment than XU100. But when comparing it to its historical volatility, ALTIUS MINERALS CORPORATION is 1.31 times less risky than XU100. It trades about 0.01 of its potential returns per unit of risk. XU100 is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest  10,060,499  in XU100 on October 16, 2019 and sell it today you would earn a total of  212,799  from holding XU100 or generate 2.12% return on investment over 30 days.

Pair Corralation between ALTIUS MINERALS and XU100

-0.42
Time Period3 Months [change]
DirectionNegative 
StrengthVery Weak
Accuracy98.44%
ValuesDaily Returns

Diversification Opportunities for ALTIUS MINERALS and XU100

ALTIUS MINERALS CORPORATION diversification synergy

Very good diversification

Overlapping area represents the amount of risk that can be diversified away by holding ALTIUS MINERALS CORPORATION and XU100 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on XU100 and ALTIUS MINERALS 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 ALTIUS MINERALS CORPORATION are associated (or correlated) with XU100. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of XU100 has no effect on the direction of ALTIUS MINERALS i.e. ALTIUS MINERALS and XU100 go up and down completely randomly.
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See also your portfolio center. Please also try Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.


 
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