Correlation Analysis Between NASDAQ UK and NZSE

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

Comparative Performance

 Predicted Return Density 
      Returns 

NASDAQ UK  vs.  NZSE

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, NASDAQ UK is expected to generate 1.93 times more return on investment than NZSE. However, NASDAQ UK is 1.93 times more volatile than NZSE. It trades about 0.27 of its potential returns per unit of risk. NZSE is currently generating about 0.37 per unit of risk. If you would invest  92,213  in NASDAQ UK on January 20, 2019 and sell it today you would earn a total of  9,127  from holding NASDAQ UK or generate 9.9% return on investment over 30 days.

Pair Corralation between NASDAQ UK and NZSE

0.79
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy67.57%
ValuesDaily Returns

Diversification Opportunities for NASDAQ UK and NZSE

NASDAQ UK diversification synergy

Poor diversification

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

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Money Managers module to screen money managers from public funds and etfs managed around the world.


 
Search macroaxis.com