Correlation Analysis Between Siemens Gamesa and NIKKEI 225

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

Siemens Gamesa Renewable Energ  vs.  NIKKEI 225

 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  1,698  in Siemens Gamesa Renewable Energy S A on June 20, 2019 and sell it today you would earn a total of  0.00  from holding Siemens Gamesa Renewable Energy S A or generate 0.0% return on investment over 30 days.

Pair Corralation between Siemens Gamesa and NIKKEI 225

0.0
Time Period2 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy2.78%
ValuesDaily Returns

Diversification Opportunities for Siemens Gamesa and NIKKEI 225

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 NIKKEI 225 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NIKKEI 225 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 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 Siemens Gamesa i.e. Siemens Gamesa and NIKKEI 225 go up and down completely randomly.
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See also your portfolio center. Please also try Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.


 
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