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This module allows you to analyze existing cross correlation between BP Prudhoe Bay Royalty Trust and NASDAQ UK. You can compare the effects of market volatilities on BP Prudhoe 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 BP Prudhoe with a short position of NASDAQ UK. See also your portfolio center. Please also check ongoing floating volatility patterns of BP Prudhoe and NASDAQ UK.
|Horizon||30 Days Login to change|
BP Prudhoe Bay Royalty Trust vs. NASDAQ UK
If you would invest (100.00) in NASDAQ UK on March 26, 2019 and sell it today you would earn a total of 100.00 from holding NASDAQ UK or generate -100.0% return on investment over 30 days.
Pair Corralation between BP Prudhoe and NASDAQ UK
|Time Period||2 Months [change]|
Diversification Opportunities for BP Prudhoe and NASDAQ UK
Overlapping area represents the amount of risk that can be diversified away by holding BP Prudhoe Bay Royalty Trust and NASDAQ UK in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NASDAQ UK and BP Prudhoe 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 BP Prudhoe Bay Royalty Trust 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 BP Prudhoe i.e. BP Prudhoe and NASDAQ UK go up and down completely randomly.
BP Prudhoe Bay Royalty Trust
Pair trading matchups for BP Prudhoe
Pair trading matchups for NASDAQ UK
See also your portfolio center. Please also try My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. macroaxis watchlist is based on self-learning algorithm to remember stocks you like.