Correlation Analysis Between MGT CAPITAL and Taiwan Wtd

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

 Predicted Return Density 
      Returns 

MGT CAPITAL INVESTMENTS INC  vs.  Taiwan Wtd

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, MGT CAPITAL INVESTMENTS INC is expected to under-perform the Taiwan Wtd. In addition to that, MGT CAPITAL is 14.85 times more volatile than Taiwan Wtd. It trades about -0.05 of its total potential returns per unit of risk. Taiwan Wtd is currently generating about 0.02 per unit of volatility. If you would invest  1,080,377  in Taiwan Wtd on August 19, 2019 and sell it today you would earn a total of  7,073  from holding Taiwan Wtd or generate 0.65% return on investment over 30 days.

Pair Corralation between MGT CAPITAL and Taiwan Wtd

0.49
Time Period3 Months [change]
DirectionPositive 
StrengthWeak
Accuracy98.41%
ValuesDaily Returns

Diversification Opportunities for MGT CAPITAL and Taiwan Wtd

MGT CAPITAL INVESTMENTS INC diversification synergy

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding MGT CAPITAL INVESTMENTS INC and Taiwan Wtd in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Taiwan Wtd 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 Taiwan Wtd. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Taiwan Wtd has no effect on the direction of MGT CAPITAL i.e. MGT CAPITAL and Taiwan Wtd go up and down completely randomly.
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See also your portfolio center. Please also try Fundamentals Matrix module to view fundamentals matrix and analyze how accounts are interrelated and interconnected with each other.


 
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