Correlation Analysis Between DOW and Sm Prime

Analyzing existing cross correlation between DOW and Sm Prime Holding Intl Shs. You can compare the effects of market volatilities on DOW and Sm Prime 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 Sm Prime. See also your portfolio center. Please also check ongoing floating volatility patterns of DOW and Sm Prime.
Horizon     30 Days    Login   to change
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Comparative Performance

 Predicted Return Density 
    
  Returns 

DOW  vs.  Sm Prime Holding Intl Shs

 Performance (%) 
    
  Timeline 

Pair Volatility

If you would invest  2,682,764  in DOW on December 19, 2019 and sell it today you would earn a total of  252,046  from holding DOW or generate 9.4% return on investment over 30 days.

Pair Corralation between DOW and Sm Prime

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy98.44%
ValuesDaily Returns

Diversification Opportunities for DOW and Sm Prime

DOW diversification synergy

Pay attention

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