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
Compare Efficiency

Comparative Performance

 Predicted Return Density 

Nasdaq  vs.  Stockholm

 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Nasdaq is expected to under-perform the Stockholm. In addition to that, Nasdaq is 1.63 times more volatile than Stockholm. It trades about -0.11 of its total potential returns per unit of risk. Stockholm is currently generating about -0.09 per unit of volatility. If you would invest  56,162  in Stockholm on November 18, 2018 and sell it today you would lose (2,534)  from holding Stockholm or give up 4.51% of portfolio value over 30 days.

Pair Corralation between Nasdaq and Stockholm

Time Period2 Months [change]
ValuesDaily Returns

Diversification Opportunities for Nasdaq and Stockholm

Nasdaq diversification synergy

Poor diversification

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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See also your portfolio center. Please also try Coins and Tokens Correlation module to utilize digital token correlation table to build portfolio of cryptocurrencies across multiple exchanges.