Correlation Analysis Between EURONEXT BEL-20 and ISEQ

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

Comparative Performance

 Predicted Return Density 
      Returns 

EURONEXT BEL-20  vs.  ISEQ

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, EURONEXT BEL-20 is expected to generate 1.01 times less return on investment than ISEQ. But when comparing it to its historical volatility, EURONEXT BEL-20 is 1.04 times less risky than ISEQ. It trades about 0.27 of its potential returns per unit of risk. ISEQ is currently generating about 0.27 of returns per unit of risk over similar time horizon. If you would invest  538,370  in ISEQ on January 20, 2019 and sell it today you would earn a total of  59,321  from holding ISEQ or generate 11.02% return on investment over 30 days.

Pair Corralation between EURONEXT BEL-20 and ISEQ

0.93
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for EURONEXT BEL-20 and ISEQ

EURONEXT BEL-20 diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding EURONEXT BEL-20 and ISEQ in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on ISEQ and EURONEXT BEL-20 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 EURONEXT BEL-20 are associated (or correlated) with ISEQ. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ISEQ has no effect on the direction of EURONEXT BEL-20 i.e. EURONEXT BEL-20 and ISEQ go up and down completely randomly.
    Optimize

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Portfolio Center module to all portfolio management and optimization tools to improve performance of your portfolios.


 
Search macroaxis.com