Correlation Analysis Between SECTOR 10 and XU100

This module allows you to analyze existing cross correlation between SECTOR 10 INC and XU100. You can compare the effects of market volatilities on SECTOR 10 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 SECTOR 10 with a short position of XU100. See also your portfolio center. Please also check ongoing floating volatility patterns of SECTOR 10 and XU100.
Horizon     30 Days    Login   to change
Symbolsvs
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Comparative Performance

 Predicted Return Density 
      Returns 

SECTOR 10 INC  vs.  XU100

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, SECTOR 10 INC is expected to generate 10.84 times more return on investment than XU100. However, SECTOR 10 is 10.84 times more volatile than XU100. It trades about 0.21 of its potential returns per unit of risk. XU100 is currently generating about 0.05 per unit of risk. If you would invest  600.00  in SECTOR 10 INC on October 21, 2019 and sell it today you would earn a total of  1,100  from holding SECTOR 10 INC or generate 183.33% return on investment over 30 days.

Pair Corralation between SECTOR 10 and XU100

0.78
Time Period3 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy59.42%
ValuesDaily Returns

Diversification Opportunities for SECTOR 10 and XU100

SECTOR 10 INC diversification synergy

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding SECTOR 10 INC and XU100 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on XU100 and SECTOR 10 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 SECTOR 10 INC 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 SECTOR 10 i.e. SECTOR 10 and XU100 go up and down completely randomly.
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See also your portfolio center. Please also try Market Hitters module to find equities that experience drastic asymmetry in trading patters, price, volume, or investment outlook..


 
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