Correlation Analysis Between ISEQ and Madrid Gnrl

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

ISEQ  vs.  Madrid Gnrl

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, ISEQ is expected to under-perform the Madrid Gnrl. In addition to that, ISEQ is 1.23 times more volatile than Madrid Gnrl. It trades about -0.19 of its total potential returns per unit of risk. Madrid Gnrl is currently generating about -0.12 per unit of volatility. If you would invest  96,026  in Madrid Gnrl on May 19, 2019 and sell it today you would lose (3,364)  from holding Madrid Gnrl or give up 3.5% of portfolio value over 30 days.

Pair Corralation between ISEQ and Madrid Gnrl

0.0
Time Period2 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy97.44%
ValuesDaily Returns

Diversification Opportunities for ISEQ and Madrid Gnrl

ISEQ diversification synergy

Pay attention

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