- Companies in United States
- Peer Analysis
This module allows you to analyze existing cross correlation between Sprint Corporation and NIKKEI 225. You can compare the effects of market volatilities on Sprint and NIKKEI 225 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 Sprint with a short position of NIKKEI 225. See also your portfolio center. Please also check ongoing floating volatility patterns of Sprint and NIKKEI 225.
|Horizon||30 Days Login to change|
Predicted Return Density
Sprint Corp. vs. NIKKEI 225
Taking into account the 30 trading days horizon, Sprint Corporation is expected to generate 1.62 times more return on investment than NIKKEI 225. However, Sprint is 1.62 times more volatile than NIKKEI 225. It trades about 0.08 of its potential returns per unit of risk. NIKKEI 225 is currently generating about 0.13 per unit of risk. If you would invest 607.00 in Sprint Corporation on February 17, 2019 and sell it today you would earn a total of 32.00 from holding Sprint Corporation or generate 5.27% return on investment over 30 days.
Pair Corralation between Sprint and NIKKEI 225
|Time Period||2 Months [change]|
Diversification Opportunities for Sprint and NIKKEI 225
Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding Sprint Corp. and NIKKEI 225 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NIKKEI 225 and Sprint 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 Sprint Corporation are associated (or correlated) with NIKKEI 225. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NIKKEI 225 has no effect on the direction of Sprint i.e. Sprint and NIKKEI 225 go up and down completely randomly.