Correlation Analysis Between MGT CAPITAL and NASDAQ UK

This module allows you to analyze existing cross correlation between MGT CAPITAL INVESTMENTS INC and NASDAQ UK. You can compare the effects of market volatilities on MGT CAPITAL and NASDAQ UK 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 MGT CAPITAL with a short position of NASDAQ UK. See also your portfolio center. Please also check ongoing floating volatility patterns of MGT CAPITAL and NASDAQ UK.
Horizon     30 Days    Login   to change
Symbolsvs
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Comparative Performance

 Predicted Return Density 
      Returns 

MGT CAPITAL INVESTMENTS INC  vs.  NASDAQ UK

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, MGT CAPITAL INVESTMENTS INC is expected to under-perform the NASDAQ UK. In addition to that, MGT CAPITAL is 9.93 times more volatile than NASDAQ UK. It trades about -0.05 of its total potential returns per unit of risk. NASDAQ UK is currently generating about 0.19 per unit of volatility. If you would invest  96,412  in NASDAQ UK on August 17, 2019 and sell it today you would earn a total of  1,442  from holding NASDAQ UK or generate 1.5% return on investment over 30 days.

Pair Corralation between MGT CAPITAL and NASDAQ UK

-0.38
Time Period3 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy12.5%
ValuesDaily Returns

Diversification Opportunities for MGT CAPITAL and NASDAQ UK

MGT CAPITAL INVESTMENTS INC diversification synergy

Very good diversification

Overlapping area represents the amount of risk that can be diversified away by holding MGT CAPITAL INVESTMENTS INC and NASDAQ UK in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NASDAQ UK and MGT CAPITAL 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 MGT CAPITAL INVESTMENTS INC are associated (or correlated) with NASDAQ UK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NASDAQ UK has no effect on the direction of MGT CAPITAL i.e. MGT CAPITAL and NASDAQ UK go up and down completely randomly.
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See also your portfolio center. Please also try Price Ceiling Movement module to calculate and plot price ceiling movement for different equity instruments.


 
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