Correlation Analysis Between Nasdaq and Greece TR

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

Nasdaq  vs.  Greece TR

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Nasdaq is expected to generate 0.54 times more return on investment than Greece TR. However, Nasdaq is 1.86 times less risky than Greece TR. It trades about -0.22 of its potential returns per unit of risk. Greece TR is currently generating about -0.18 per unit of risk. If you would invest  802,823  in Nasdaq on September 20, 2018 and sell it today you would lose (57,920)  from holding Nasdaq or give up 7.21% of portfolio value over 30 days.

Pair Corralation between Nasdaq and Greece TR

0.79
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Poor diversification

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

 Predicted Return Density 
      Returns 

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GOOG - USA Stock
Alphabet
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IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1115.69

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