Correlation Analysis Between NZSE and Nasdaq

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

NZSE  vs.  Nasdaq

 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  1,000,484  in NZSE on May 18, 2019 and sell it today you would earn a total of  21,273  from holding NZSE or generate 2.13% return on investment over 30 days.

Pair Corralation between NZSE and Nasdaq

0.0
Time Period2 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

Diversification Opportunities for NZSE and Nasdaq

NZSE diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding NZSE and Nasdaq in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Nasdaq and NZSE 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 NZSE are associated (or correlated) with Nasdaq. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Nasdaq has no effect on the direction of NZSE i.e. NZSE and Nasdaq go up and down completely randomly.
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See also your portfolio center. Please also try Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.


 
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