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.
 Time Horizon     30 Days    Login   to change
Symbolsvs

Nasdaq  vs.  Stockholm

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Nasdaq is expected to under-perform the Stockholm. But the index apears to be less risky and, when comparing its historical volatility, Nasdaq is 2.27 times less risky than Stockholm. The index trades about -0.71 of its potential returns per unit of risk. The Stockholm is currently generating about -0.17 of returns per unit of risk over similar time horizon. If you would invest  59,131  in Stockholm on May 20, 2018 and sell it today you would lose (1,644)  from holding Stockholm or give up 2.78% of portfolio value over 30 days.

Pair Corralation between Nasdaq and Stockholm

0.0
Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy6.45%
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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Alphabet
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