Correlation Analysis Between INTACT FINANCIAL and EURONEXT BEL-20

This module allows you to analyze existing cross correlation between INTACT FINANCIAL CORPORATION and EURONEXT BEL-20. You can compare the effects of market volatilities on INTACT FINANCIAL and EURONEXT BEL-20 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 INTACT FINANCIAL with a short position of EURONEXT BEL-20. See also your portfolio center. Please also check ongoing floating volatility patterns of INTACT FINANCIAL and EURONEXT BEL-20.
Horizon     30 Days    Login   to change
Symbolsvs
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Comparative Performance

 Predicted Return Density 
      Returns 

INTACT FINANCIAL CORPORATION  vs.  EURONEXT BEL-20

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, INTACT FINANCIAL is expected to generate 1.15 times less return on investment than EURONEXT BEL-20. But when comparing it to its historical volatility, INTACT FINANCIAL CORPORATION is 1.16 times less risky than EURONEXT BEL-20. It trades about 0.13 of its potential returns per unit of risk. EURONEXT BEL-20 is currently generating about 0.13 of returns per unit of risk over similar time horizon. If you would invest  351,920  in EURONEXT BEL-20 on October 12, 2019 and sell it today you would earn a total of  34,041  from holding EURONEXT BEL-20 or generate 9.67% return on investment over 30 days.

Pair Corralation between INTACT FINANCIAL and EURONEXT BEL-20

0.77
Time Period3 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for INTACT FINANCIAL and EURONEXT BEL-20

INTACT FINANCIAL CORPORATION diversification synergy

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding INTACT FINANCIAL CORPORATION and EURONEXT BEL-20 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on EURONEXT BEL-20 and INTACT 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 INTACT FINANCIAL CORPORATION are associated (or correlated) with EURONEXT BEL-20. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EURONEXT BEL-20 has no effect on the direction of INTACT FINANCIAL i.e. INTACT FINANCIAL and EURONEXT BEL-20 go up and down completely randomly.
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See also your portfolio center. Please also try Pattern Recognition module to use different pattern recognition models to time the market across multiple global exchanges.


 
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