This module allows you to analyze existing cross correlation between Coupa Software Incorporated and NZSE. You can compare the effects of market volatilities on Coupa Software and NZSE 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 Coupa Software with a short position of NZSE. See also your portfolio center. Please also check ongoing floating volatility patterns of Coupa Software and NZSE.
|Horizon||30 Days Login to change|
Predicted Return Density
Coupa Software Incorporated vs. NZSE
Given the investment horizon of 30 days, Coupa Software Incorporated is expected to generate 2.3 times more return on investment than NZSE. However, Coupa Software is 2.3 times more volatile than NZSE. It trades about 0.13 of its potential returns per unit of risk. NZSE is currently generating about 0.0 per unit of risk. If you would invest 12,650 in Coupa Software Incorporated on July 27, 2019 and sell it today you would earn a total of 1,368 from holding Coupa Software Incorporated or generate 10.81% return on investment over 30 days.
Pair Corralation between Coupa Software and NZSE
|Time Period||2 Months [change]|
Diversification Opportunities for Coupa Software and NZSE
Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding Coupa Software Incorporated and NZSE in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NZSE and Coupa Software 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 Coupa Software Incorporated are associated (or correlated) with NZSE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NZSE has no effect on the direction of Coupa Software i.e. Coupa Software and NZSE go up and down completely randomly.
See also your portfolio center. Please also try Crypto Portfolio Optimizer module to optimize portfolio of digital coins and token across multiple currency and exchanges.