Correlation Analysis Between Hang Seng and NZSE

This module allows you to analyze existing cross correlation between Hang Seng and NZSE. You can compare the effects of market volatilities on Hang Seng and NZSE 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 Hang Seng with a short position of NZSE. See also your portfolio center. Please also check ongoing floating volatility patterns of Hang Seng and NZSE.
Horizon     30 Days    Login   to change
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Comparative Performance

Hang Seng  vs.  NZSE

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Hang Seng is expected to under-perform the NZSE. In addition to that, Hang Seng is 2.21 times more volatile than NZSE. It trades about -0.28 of its total potential returns per unit of risk. NZSE is currently generating about 0.13 per unit of volatility. If you would invest  1,000,484  in NZSE on May 19, 2019 and sell it today you would earn a total of  21,273  from holding NZSE or generate 2.13% return on investment over 30 days.

Pair Corralation between Hang Seng and NZSE

0.0
Time Period2 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy97.22%
ValuesDaily Returns

Diversification Opportunities for Hang Seng and NZSE

Hang Seng diversification synergy

Pay attention

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