Correlation Analysis Between NASDAQ UK and Russell 2000 |
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This module allows you to analyze existing cross correlation between NASDAQ UK and Russell 2000 . You can compare the effects of market volatilities on NASDAQ UK and Russell 2000 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 Russell 2000. See also your portfolio center. Please also check ongoing floating volatility patterns of NASDAQ UK and Russell 2000.
| Horizon | 30 Days Login to change |
| Symbols | vs |
Comparative Performance
Russell 2000
Pair trading matchups for Russell 2000
NASDAQ UK vs. Russell 2000
Pair Volatility
Assuming 30 trading days horizon, NASDAQ UK is expected to generate 2.16 times less return on investment than Russell 2000. But when comparing it to its historical volatility, NASDAQ UK is 1.75 times less risky than Russell 2000. It trades about 0.27 of its potential returns per unit of risk. Russell 2000 is currently generating about 0.33 of returns per unit of risk over similar time horizon. If you would invest 129,209 in Russell 2000 on January 20, 2019 and sell it today you would earn a total of 28,081 from holding Russell 2000 or generate 21.73% return on investment over 30 days.
Pair Corralation between NASDAQ UK and Russell 2000
0.84
| Time Period | 2 Months [change] |
| Direction | Positive |
| Strength | Strong |
| Accuracy | 97.3% |
| Values | Daily Returns |
Diversification Opportunities for NASDAQ UK and Russell 2000
Very poor diversification
Overlapping area represents the amount of risk that can be diversified away by holding NASDAQ UK and Russell 2000 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Russell 2000 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 Russell 2000. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Russell 2000 has no effect on the direction of NASDAQ UK i.e. NASDAQ UK and Russell 2000 go up and down completely randomly.
Thematic Opportunities
Explore Investment Opportunities
NASDAQ UK
Pair trading matchups for NASDAQ UK
Russell 2000
Pair trading matchups for Russell 2000
See also your portfolio center. Please also try Focused Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
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