Correlation Analysis Between KINAXIS INC and EURONEXT BEL-20

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

 Predicted Return Density 


 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, KINAXIS INC is expected to generate 2.44 times more return on investment than EURONEXT BEL-20. However, KINAXIS INC is 2.44 times more volatile than EURONEXT BEL-20. It trades about 0.17 of its potential returns per unit of risk. EURONEXT BEL-20 is currently generating about 0.17 per unit of risk. If you would invest  7,577  in KINAXIS INC on October 13, 2019 and sell it today you would earn a total of  2,414  from holding KINAXIS INC or generate 31.86% return on investment over 30 days.

Pair Corralation between KINAXIS INC and EURONEXT BEL-20

Time Period3 Months [change]
ValuesDaily Returns

Diversification Opportunities for KINAXIS INC and EURONEXT BEL-20

KINAXIS INC diversification synergy

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding KINAXIS INC 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 KINAXIS INC 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 KINAXIS INC 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 KINAXIS INC i.e. KINAXIS INC and EURONEXT BEL-20 go up and down completely randomly.
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