Correlation Analysis Between Leucadia National and NZSE

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

Leucadia National Corp.  vs.  NZSE

 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  1,023,748  in NZSE on June 20, 2019 and sell it today you would earn a total of  47,703  from holding NZSE or generate 4.66% return on investment over 30 days.

Pair Corralation between Leucadia National and NZSE

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

Diversification Opportunities for Leucadia National and NZSE

Leucadia National Corp. diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Leucadia National Corp. and NZSE in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NZSE and Leucadia National 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 Leucadia National Corporation 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 Leucadia National i.e. Leucadia National and NZSE go up and down completely randomly.
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See also your portfolio center. Please also try Money Flow Index module to determine momentum by analyzing money flow index and other technical indicators.


 
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