Correlation Analysis Between Greece TR and DOW

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

 Predicted Return Density 
      Returns 

Greece TR  vs.  DOW

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Greece TR is expected to generate 2.43 times more return on investment than DOW. However, Greece TR is 2.43 times more volatile than DOW. It trades about 0.13 of its potential returns per unit of risk. DOW is currently generating about -0.04 per unit of risk. If you would invest  50,232  in Greece TR on May 17, 2019 and sell it today you would earn a total of  4,952  from holding Greece TR or generate 9.86% return on investment over 30 days.

Pair Corralation between Greece TR and DOW

-0.1
Time Period2 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy97.62%
ValuesDaily Returns

Diversification Opportunities for Greece TR and DOW

Greece TR diversification synergy

Good diversification

Overlapping area represents the amount of risk that can be diversified away by holding Greece TR and DOW in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on DOW and Greece TR 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 Greece TR are associated (or correlated) with DOW. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DOW has no effect on the direction of Greece TR i.e. Greece TR and DOW go up and down completely randomly.
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See also your portfolio center. Please also try ETF Directory module to find actively-traded exchange traded funds (etf) from around the world.


 
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