Correlation Analysis Between Swiss Mrt and NASDAQ Italy

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

 Predicted Return Density 

Swiss Mrt  vs.  NASDAQ Italy

 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Swiss Mrt is expected to generate 0.76 times more return on investment than NASDAQ Italy. However, Swiss Mrt is 1.31 times less risky than NASDAQ Italy. It trades about 0.09 of its potential returns per unit of risk. NASDAQ Italy is currently generating about -0.19 per unit of risk. If you would invest  963,507  in Swiss Mrt on May 19, 2019 and sell it today you would earn a total of  21,254  from holding Swiss Mrt or generate 2.21% return on investment over 30 days.

Pair Corralation between Swiss Mrt and NASDAQ Italy

Time Period2 Months [change]
ValuesDaily Returns

Diversification Opportunities for Swiss Mrt and NASDAQ Italy

Swiss Mrt diversification synergy

Good diversification

Overlapping area represents the amount of risk that can be diversified away by holding Swiss Mrt and NASDAQ Italy in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NASDAQ Italy and Swiss Mrt 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 Swiss Mrt are associated (or correlated) with NASDAQ Italy. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NASDAQ Italy has no effect on the direction of Swiss Mrt i.e. Swiss Mrt and NASDAQ Italy go up and down completely randomly.
See also your portfolio center. Please also try Analyst Recommendations module to analyst recommendations and target price estimates broken down by several categories.