Correlation Analysis Between Procter Gamble and NASDAQ UK

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

 Predicted Return Density 
      Returns 

The Procter Gamble Company  vs.  NASDAQ UK

 Performance (%) 
      Timeline 

Pair Volatility

Allowing for the 30-days total investment horizon, The Procter Gamble Company is expected to generate 1.52 times more return on investment than NASDAQ UK. However, Procter Gamble is 1.52 times more volatile than NASDAQ UK. It trades about 0.17 of its potential returns per unit of risk. NASDAQ UK is currently generating about -0.03 per unit of risk. If you would invest  10,733  in The Procter Gamble Company on June 19, 2019 and sell it today you would earn a total of  768.00  from holding The Procter Gamble Company or generate 7.16% return on investment over 30 days.

Pair Corralation between Procter Gamble and NASDAQ UK

0.7
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Procter Gamble and NASDAQ UK

The Procter Gamble Company diversification synergy

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding The Procter Gamble Company and NASDAQ UK in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NASDAQ UK and Procter Gamble 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 The Procter Gamble Company 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 Procter Gamble i.e. Procter Gamble and NASDAQ UK go up and down completely randomly.
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