Correlation Analysis Between OSE All and NASDAQ UK

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

 Predicted Return Density 
      Returns 

OSE All  vs.  NASDAQ UK

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, OSE All is expected to under-perform the NASDAQ UK. In addition to that, OSE All is 1.2 times more volatile than NASDAQ UK. It trades about -0.18 of its total potential returns per unit of risk. NASDAQ UK is currently generating about -0.18 per unit of volatility. If you would invest  105,472  in NASDAQ UK on May 18, 2019 and sell it today you would lose (5,194)  from holding NASDAQ UK or give up 4.92% of portfolio value over 30 days.

Pair Corralation between OSE All and NASDAQ UK

0.82
Time Period2 Months [change]
DirectionPositive 
StrengthStrong
Accuracy92.5%
ValuesDaily Returns

Diversification Opportunities for OSE All and NASDAQ UK

OSE All diversification synergy

Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding OSE All and NASDAQ UK in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NASDAQ UK and OSE All 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 OSE All are associated (or correlated) with NASDAQ UK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NASDAQ UK has no effect on the direction of OSE All i.e. OSE All and NASDAQ UK go up and down completely randomly.
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See also your portfolio center. Please also try Pattern Recognition module to use different pattern recognition models to time the market across multiple global exchanges.


 
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