This module allows you to analyze existing cross correlation between NYSE and Greece TR. You can compare the effects of market volatilities on NYSE and Greece TR 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 NYSE with a short position of Greece TR. See also your portfolio center. Please also check ongoing floating volatility patterns of NYSE and Greece TR.
Given the investment horizon of 30 days, NYSE is expected to under-perform the Greece TR. But the index apears to be less risky and, when comparing its historical volatility, NYSE is 1.26 times less risky than Greece TR. The index trades about -0.06 of its potential returns per unit of risk. The Greece TR is currently generating about -0.04 of returns per unit of risk over similar time horizon. If you would invest 61,132 in Greece TR on March 27, 2018 and sell it today you would lose (1,744) from holding Greece TR or give up 2.85% of portfolio value over 30 days.
Overlapping area represents the amount of risk that can be diversified away by holding NYSE and Greece TR in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Greece TR and NYSE 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 NYSE are associated (or correlated) with Greece TR. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Greece TR has no effect on the direction of NYSE i.e. NYSE and Greece TR go up and down completely randomly.
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