Correlation Analysis Between MFS Emerging and DOW

This module allows you to analyze existing cross correlation between MFS Emerging Markets Debt Local and DOW. You can compare the effects of market volatilities on MFS Emerging and DOW 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 MFS Emerging with a short position of DOW. See also your portfolio center. Please also check ongoing floating volatility patterns of MFS Emerging and DOW.
Horizon     30 Days    Login   to change
Symbolsvs
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Comparative Performance

 Predicted Return Density 
      Returns 

MFS Emerging Markets Debt Loca  vs.  DOW

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, MFS Emerging is expected to generate 20.98 times less return on investment than DOW. But when comparing it to its historical volatility, MFS Emerging Markets Debt Local is 1.83 times less risky than DOW. It trades about 0.01 of its potential returns per unit of risk. DOW is currently generating about 0.16 of returns per unit of risk over similar time horizon. If you would invest  2,588,601  in DOW on October 15, 2019 and sell it today you would earn a total of  189,912  from holding DOW or generate 7.34% return on investment over 30 days.

Pair Corralation between MFS Emerging and DOW

0.63
Time Period3 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for MFS Emerging and DOW

MFS Emerging Markets Debt Loca diversification synergy

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding MFS Emerging Markets Debt Loca and DOW in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on DOW and MFS Emerging 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 MFS Emerging Markets Debt Local are associated (or correlated) with DOW. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DOW has no effect on the direction of MFS Emerging i.e. MFS Emerging and DOW go up and down completely randomly.
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See also your portfolio center. Please also try Piotroski F Score module to get piotroski f score based on binary analysis strategy of nine different fundamentals.


 
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