Correlation Analysis Between DOW and MFS Blended

This module allows you to analyze existing cross correlation between DOW and MFS Blended Research Global Equ. You can compare the effects of market volatilities on DOW and MFS Blended 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 MFS Blended. See also your portfolio center. Please also check ongoing floating volatility patterns of DOW and MFS Blended.
Horizon     30 Days    Login   to change
Symbolsvs
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Comparative Performance

 Predicted Return Density 
      Returns 

DOW  vs.  MFS Blended Research Global Eq

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, DOW is expected to generate 1.09 times less return on investment than MFS Blended. In addition to that, DOW is 1.07 times more volatile than MFS Blended Research Global Equ. It trades about 0.15 of its total potential returns per unit of risk. MFS Blended Research Global Equ is currently generating about 0.18 per unit of volatility. If you would invest  1,125  in MFS Blended Research Global Equ on October 17, 2019 and sell it today you would earn a total of  87.00  from holding MFS Blended Research Global Equ or generate 7.73% return on investment over 30 days.

Pair Corralation between DOW and MFS Blended

0.92
Time Period3 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy98.46%
ValuesDaily Returns

Diversification Opportunities for DOW and MFS Blended

DOW diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding DOW and MFS Blended Research Global Eq in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on MFS Blended Research 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 MFS Blended. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MFS Blended Research has no effect on the direction of DOW i.e. DOW and MFS Blended go up and down completely randomly.
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See also your portfolio center. Please also try Price Transformation module to use price transformation models to analyze depth of different equity instruments across global markets.


 
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