Correlation Analysis Between DOW and Greece TR

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

Comparative Performance

 Predicted Return Density 
      Returns 

DOW  vs.  Greece TR

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, DOW is expected to under-perform the Greece TR. But the index apears to be less risky and, when comparing its historical volatility, DOW is 1.33 times less risky than Greece TR. The index trades about -0.13 of its potential returns per unit of risk. The Greece TR is currently generating about 0.0 of returns per unit of risk over similar time horizon. If you would invest  41,825  in Greece TR on November 18, 2018 and sell it today you would lose (124.00)  from holding Greece TR or give up 0.3% of portfolio value over 30 days.

Pair Corralation between DOW and Greece TR

0.13
Time Period2 Months [change]
DirectionPositive 
StrengthInsignificant
Accuracy95.35%
ValuesDaily Returns

Diversification Opportunities for DOW and Greece TR

DOW diversification synergy

Average diversification

Overlapping area represents the amount of risk that can be diversified away by holding DOW and Greece TR in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Greece TR 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 Greece TR. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Greece TR has no effect on the direction of DOW i.e. DOW and Greece TR 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 Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.


 
Search macroaxis.com