Correlation Analysis Between Nasdaq and Stockholm

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

Nasdaq  vs.  Stockholm

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Nasdaq is expected to generate 1.25 times less return on investment than Stockholm. But when comparing it to its historical volatility, Nasdaq is 1.0 times less risky than Stockholm. It trades about 0.05 of its potential returns per unit of risk. Stockholm is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest  60,678  in Stockholm on August 23, 2018 and sell it today you would earn a total of  657.00  from holding Stockholm or generate 1.08% return on investment over 30 days.

Pair Corralation between Nasdaq and Stockholm

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 Stockholm in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Stockholm 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 Stockholm. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Stockholm has no effect on the direction of Nasdaq i.e. Nasdaq and Stockholm go up and down completely randomly.
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Comparative Volatility

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