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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|
Predicted Return Density
Greece TR vs. DOW
Assuming 30 trading days horizon, Greece TR is expected to generate 2.23 times less return on investment than DOW. But when comparing it to its historical volatility, Greece TR is 1.44 times less risky than DOW. It trades about 0.14 of its potential returns per unit of risk. DOW is currently generating about 0.22 of returns per unit of risk over similar time horizon. If you would invest 2,244,537 in DOW on January 20, 2019 and sell it today you would earn a total of 342,724 from holding DOW or generate 15.27% return on investment over 30 days.
Pair Corralation between Greece TR and DOW
|Time Period||2 Months [change]|
Diversification Opportunities for Greece TR and DOW
Very weak 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.