Correlation Analysis Between Nasdaq and ATX

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

Nasdaq  vs.  ATX

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Nasdaq is expected to generate 1.54 times less return on investment than ATX. In addition to that, Nasdaq is 1.2 times more volatile than ATX. It trades about 0.08 of its total potential returns per unit of risk. ATX is currently generating about 0.16 per unit of volatility. If you would invest  329,067  in ATX on August 26, 2018 and sell it today you would earn a total of  7,612  from holding ATX or generate 2.31% return on investment over 30 days.

Pair Corralation between Nasdaq and ATX

0.0
Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Pay attention

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

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