Correlation Analysis Between NASDAQ UK and NASDAQ Italy

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

NASDAQ UK  vs.  NASDAQ Italy

 Performance (%) 
      Timeline 

Pair Volatility

If you would invest (100.00)  in NASDAQ Italy on May 19, 2019 and sell it today you would earn a total of  100.00  from holding NASDAQ Italy or generate -100.0% return on investment over 30 days.

Pair Corralation between NASDAQ UK and NASDAQ Italy

0.0
Time Period2 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

Diversification Opportunities for NASDAQ UK and NASDAQ Italy

NASDAQ UK diversification synergy

Pay attention

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