Correlation Analysis Between Siemens Gamesa and All Ords

This module allows you to analyze existing cross correlation between Siemens Gamesa Renewable Energy S A and All Ords. You can compare the effects of market volatilities on Siemens Gamesa and All Ords 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 Siemens Gamesa with a short position of All Ords. See also your portfolio center. Please also check ongoing floating volatility patterns of Siemens Gamesa and All Ords.
Horizon     30 Days    Login   to change
Check Efficiency

Comparative Performance

Siemens Gamesa Renewable Energ  vs.  All Ords

 Performance (%) 

Pair Volatility

If you would invest  659,810  in All Ords on June 20, 2019 and sell it today you would earn a total of  13,730  from holding All Ords or generate 2.08% return on investment over 30 days.

Pair Corralation between Siemens Gamesa and All Ords

Time Period2 Months [change]
ValuesDaily Returns

Diversification Opportunities for Siemens Gamesa and All Ords

Siemens Gamesa Renewable Energ diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Siemens Gamesa Renewable Energ and All Ords in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on All Ords and Siemens Gamesa 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 Siemens Gamesa Renewable Energy S A are associated (or correlated) with All Ords. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of All Ords has no effect on the direction of Siemens Gamesa i.e. Siemens Gamesa and All Ords go up and down completely randomly.
See also your portfolio center. Please also try Volatility Analysis module to get historical volatility and risk analysis based on latest market data.