Correlation Analysis Between Iovance Biotherapeutics and NZSE

This module allows you to analyze existing cross correlation between Iovance Biotherapeutics and NZSE. You can compare the effects of market volatilities on Iovance Biotherapeutics and NZSE 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 Iovance Biotherapeutics with a short position of NZSE. See also your portfolio center. Please also check ongoing floating volatility patterns of Iovance Biotherapeutics and NZSE.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

Comparative Performance

 Predicted Return Density 
      Returns 

Iovance Biotherapeutics Inc  vs.  NZSE

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Iovance Biotherapeutics is expected to under-perform the NZSE. In addition to that, Iovance Biotherapeutics is 3.76 times more volatile than NZSE. It trades about -0.05 of its total potential returns per unit of risk. NZSE is currently generating about 0.11 per unit of volatility. If you would invest  1,043,122  in NZSE on July 26, 2019 and sell it today you would earn a total of  31,133  from holding NZSE or generate 2.98% return on investment over 30 days.

Pair Corralation between Iovance Biotherapeutics and NZSE

-0.23
Time Period2 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy79.55%
ValuesDaily Returns

Diversification Opportunities for Iovance Biotherapeutics and NZSE

Iovance Biotherapeutics Inc diversification synergy

Very good diversification

Overlapping area represents the amount of risk that can be diversified away by holding Iovance Biotherapeutics Inc and NZSE in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NZSE and Iovance Biotherapeutics 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 Iovance Biotherapeutics are associated (or correlated) with NZSE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NZSE has no effect on the direction of Iovance Biotherapeutics i.e. Iovance Biotherapeutics and NZSE go up and down completely randomly.
    Optimize
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.


 
Search macroaxis.com