Correlation Analysis Between FAIRFAX FINANCIAL and NYSE

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

 Predicted Return Density 
      Returns 

FAIRFAX FINANCIAL HOLDINGS LTD  vs.  NYSE

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, FAIRFAX FINANCIAL is expected to generate 2.06 times less return on investment than NYSE. In addition to that, FAIRFAX FINANCIAL is 1.62 times more volatile than NYSE. It trades about 0.03 of its total potential returns per unit of risk. NYSE is currently generating about 0.1 per unit of volatility. If you would invest  1,268,846  in NYSE on October 21, 2019 and sell it today you would earn a total of  74,791  from holding NYSE or generate 5.89% return on investment over 30 days.

Pair Corralation between FAIRFAX FINANCIAL and NYSE

0.27
Time Period3 Months [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for FAIRFAX FINANCIAL and NYSE

FAIRFAX FINANCIAL HOLDINGS LTD diversification synergy

Modest diversification

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