Correlation Analysis Between Iron Mountain and XU100

This module allows you to analyze existing cross correlation between Iron Mountain Incorporated Del and XU100. You can compare the effects of market volatilities on Iron Mountain and XU100 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 Iron Mountain with a short position of XU100. See also your portfolio center. Please also check ongoing floating volatility patterns of Iron Mountain and XU100.
Horizon     30 Days    Login   to change
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Comparative Performance

 Predicted Return Density 
      Returns 

Iron Mountain Incorporated Del  vs.  XU100

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, Iron Mountain is expected to generate 1.36 times less return on investment than XU100. In addition to that, Iron Mountain is 1.3 times more volatile than XU100. It trades about 0.02 of its total potential returns per unit of risk. XU100 is currently generating about 0.03 per unit of volatility. If you would invest  9,557,312  in XU100 on July 25, 2019 and sell it today you would earn a total of  157,592  from holding XU100 or generate 1.65% return on investment over 30 days.

Pair Corralation between Iron Mountain and XU100

-0.47
Time Period2 Months [change]
DirectionNegative 
StrengthVery Weak
Accuracy95.45%
ValuesDaily Returns

Diversification Opportunities for Iron Mountain and XU100

Iron Mountain Incorporated Del diversification synergy

Very good diversification

Overlapping area represents the amount of risk that can be diversified away by holding Iron Mountain Incorporated Del and XU100 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on XU100 and Iron Mountain 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 Iron Mountain Incorporated Del are associated (or correlated) with XU100. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of XU100 has no effect on the direction of Iron Mountain i.e. Iron Mountain and XU100 go up and down completely randomly.
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See also your portfolio center. Please also try Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.


 
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