Correlation Analysis Between Dollar General and NIKKEI 225

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

 Predicted Return Density 
      Returns 

Dollar General Corp.  vs.  NIKKEI 225

 Performance (%) 
      Timeline 

Pair Volatility

Allowing for the 30-days total investment horizon, Dollar General Corporation is expected to generate 0.73 times more return on investment than NIKKEI 225. However, Dollar General Corporation is 1.37 times less risky than NIKKEI 225. It trades about 0.01 of its potential returns per unit of risk. NIKKEI 225 is currently generating about -0.05 per unit of risk. If you would invest  13,647  in Dollar General Corporation on July 26, 2019 and sell it today you would earn a total of  52.00  from holding Dollar General Corporation or generate 0.38% return on investment over 30 days.

Pair Corralation between Dollar General and NIKKEI 225

0.3
Time Period2 Months [change]
DirectionPositive 
StrengthVery Weak
Accuracy79.55%
ValuesDaily Returns

Diversification Opportunities for Dollar General and NIKKEI 225

Dollar General Corp. diversification synergy

Weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Dollar General Corp. and NIKKEI 225 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NIKKEI 225 and Dollar General 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 Dollar General Corporation 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 Dollar General i.e. Dollar General and NIKKEI 225 go up and down completely randomly.
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