This module allows you to analyze existing cross correlation between Enphase Energy and NIKKEI 225. You can compare the effects of market volatilities on Enphase Energy 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 Enphase Energy with a short position of NIKKEI 225. See also your portfolio center. Please also check ongoing floating volatility patterns of Enphase Energy and NIKKEI 225.
|Horizon||30 Days Login to change|
Predicted Return Density
Enphase Energy Inc vs. NIKKEI 225
Given the investment horizon of 30 days, Enphase Energy is expected to generate 3.71 times more return on investment than NIKKEI 225. However, Enphase Energy is 3.71 times more volatile than NIKKEI 225. It trades about 0.31 of its potential returns per unit of risk. NIKKEI 225 is currently generating about -0.05 per unit of risk. If you would invest 1,679 in Enphase Energy on July 26, 2019 and sell it today you would earn a total of 1,661 from holding Enphase Energy or generate 98.93% return on investment over 30 days.
Pair Corralation between Enphase Energy and NIKKEI 225
|Time Period||2 Months [change]|
Diversification Opportunities for Enphase Energy and NIKKEI 225
Overlapping area represents the amount of risk that can be diversified away by holding Enphase Energy Inc and NIKKEI 225 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NIKKEI 225 and Enphase Energy 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 Enphase Energy 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 Enphase Energy i.e. Enphase Energy and NIKKEI 225 go up and down completely randomly.
See also your portfolio center. Please also try Headlines Timeline module to stay connected to all market stories and filter out noise. drill down to analyze hype elasticity.