Correlation Analysis Between NASDAQ UK and NYSE

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

 Predicted Return Density 
      Returns 

NASDAQ UK  vs.  NYSE

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, NASDAQ UK is expected to generate 1.28 times less return on investment than NYSE. But when comparing it to its historical volatility, NASDAQ UK is 1.63 times less risky than NYSE. It trades about 0.23 of its potential returns per unit of risk. NYSE is currently generating about 0.18 of returns per unit of risk over similar time horizon. If you would invest  1,137,184  in NYSE on January 18, 2019 and sell it today you would earn a total of  123,163  from holding NYSE or generate 10.83% return on investment over 30 days.

Pair Corralation between NASDAQ UK and NYSE

0.83
Time Period2 Months [change]
DirectionPositive 
StrengthStrong
Accuracy97.44%
ValuesDaily Returns

Diversification Opportunities for NASDAQ UK and NYSE

NASDAQ UK diversification synergy

Very poor diversification

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