Correlation Analysis Between Churchill Capital and NIKKEI 225

This module allows you to analyze existing cross correlation between Churchill Capital Corp and NIKKEI 225. You can compare the effects of market volatilities on Churchill Capital and NIKKEI 225 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 Churchill Capital with a short position of NIKKEI 225. See also your portfolio center. Please also check ongoing floating volatility patterns of Churchill Capital and NIKKEI 225.
Horizon     30 Days    Login   to change
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Comparative Performance

 Predicted Return Density 
      Returns 

Churchill Capital Corp  vs.  NIKKEI 225

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, Churchill Capital Corp is expected to under-perform the NIKKEI 225. In addition to that, Churchill Capital is 2.58 times more volatile than NIKKEI 225. It trades about -0.01 of its total potential returns per unit of risk. NIKKEI 225 is currently generating about 0.29 per unit of volatility. If you would invest  2,040,565  in NIKKEI 225 on October 14, 2019 and sell it today you would earn a total of  291,422  from holding NIKKEI 225 or generate 14.28% return on investment over 30 days.

Pair Corralation between Churchill Capital and NIKKEI 225

-0.63
Time Period3 Months [change]
DirectionNegative 
StrengthWeak
Accuracy85.14%
ValuesDaily Returns

Diversification Opportunities for Churchill Capital and NIKKEI 225

Churchill Capital Corp diversification synergy

Excellent diversification

Overlapping area represents the amount of risk that can be diversified away by holding Churchill Capital Corp and NIKKEI 225 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NIKKEI 225 and Churchill Capital 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 Churchill Capital Corp are associated (or correlated) with NIKKEI 225. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NIKKEI 225 has no effect on the direction of Churchill Capital i.e. Churchill Capital and NIKKEI 225 go up and down completely randomly.
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