Correlation Analysis Between MGT CAPITAL and NZSE

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

 Predicted Return Density 


 Performance (%) 

Pair Volatility

Given the investment horizon of 30 days, MGT CAPITAL INVESTMENTS INC is expected to under-perform the NZSE. In addition to that, MGT CAPITAL is 13.07 times more volatile than NZSE. It trades about -0.02 of its total potential returns per unit of risk. NZSE is currently generating about 0.1 per unit of volatility. If you would invest  1,032,729  in NZSE on August 20, 2019 and sell it today you would earn a total of  47,376  from holding NZSE or generate 4.59% return on investment over 30 days.

Pair Corralation between MGT CAPITAL and NZSE

Time Period3 Months [change]
ValuesDaily Returns

Diversification Opportunities for MGT CAPITAL and NZSE

MGT CAPITAL INVESTMENTS INC diversification synergy

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding MGT CAPITAL INVESTMENTS INC and NZSE in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NZSE 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 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 MGT CAPITAL i.e. MGT CAPITAL and NZSE go up and down completely randomly.
See also your portfolio center. Please also try Price Ceiling Movement module to calculate and plot price ceiling movement for different equity instruments.