Correlation Analysis Between INTACT FINANCIAL and BSE

This module allows you to analyze existing cross correlation between INTACT FINANCIAL CORPORATION and BSE. You can compare the effects of market volatilities on INTACT FINANCIAL and BSE 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 BSE. See also your portfolio center. Please also check ongoing floating volatility patterns of INTACT FINANCIAL and BSE.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

Comparative Performance

 Predicted Return Density 
      Returns 

INTACT FINANCIAL CORPORATION  vs.  BSE

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, INTACT FINANCIAL is expected to generate 1.09 times less return on investment than BSE. But when comparing it to its historical volatility, INTACT FINANCIAL CORPORATION is 1.59 times less risky than BSE. It trades about 0.13 of its potential returns per unit of risk. BSE is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest  3,732,801  in BSE on October 15, 2019 and sell it today you would earn a total of  295,847  from holding BSE or generate 7.93% return on investment over 30 days.

Pair Corralation between INTACT FINANCIAL and BSE

0.61
Time Period3 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy89.06%
ValuesDaily Returns

Diversification Opportunities for INTACT FINANCIAL and BSE

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 BSE in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on BSE 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 BSE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BSE has no effect on the direction of INTACT FINANCIAL i.e. INTACT FINANCIAL and BSE go up and down completely randomly.
    Optimize
See also your portfolio center. Please also try Aroon Oscillator module to analyze current equity momentum using aroon oscillator and other momentum ratios.


 
Search macroaxis.com