Correlation Analysis Between DOW and ISEQ |
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This module allows you to analyze existing cross correlation between DOW and ISEQ. You can compare the effects of market volatilities on DOW 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 DOW with a short position of ISEQ. See also your portfolio center. Please also check ongoing floating volatility patterns of DOW and ISEQ.
| Horizon | 30 Days Login to change |
| Symbols | vs |
Comparative Performance
DOW vs. ISEQ
Pair Volatility
Given the investment horizon of 30 days, DOW is expected to generate 1.76 times more return on investment than ISEQ. However, DOW is 1.76 times more volatile than ISEQ. It trades about 0.15 of its potential returns per unit of risk. ISEQ is currently generating about 0.22 per unit of risk. If you would invest 2,332,366 in DOW on January 18, 2019 and sell it today you would earn a total of 255,959 from holding DOW or generate 10.97% return on investment over 30 days.
Pair Corralation between DOW and ISEQ
0.75
| Time Period | 2 Months [change] |
| Direction | Positive |
| Strength | Significant |
| Accuracy | 97.44% |
| Values | Daily Returns |
Diversification Opportunities for DOW and ISEQ
Poor diversification
Overlapping area represents the amount of risk that can be diversified away by holding DOW and ISEQ in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on ISEQ and DOW 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 DOW 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 DOW i.e. DOW and ISEQ go up and down completely randomly.
Thematic Opportunities
Explore Investment Opportunities
DOW
Pair trading matchups for DOW
ISEQ
Pair trading matchups for ISEQ
See also your portfolio center. Please also try Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.
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