Correlation Analysis Between Sprint and NASDAQ UK

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

 Predicted Return Density 

Sprint Corp.  vs.  NASDAQ UK

 Performance (%) 

Pair Volatility

Taking into account the 30 trading days horizon, Sprint Corporation is expected to generate 4.84 times more return on investment than NASDAQ UK. However, Sprint is 4.84 times more volatile than NASDAQ UK. It trades about 0.0 of its potential returns per unit of risk. NASDAQ UK is currently generating about -0.02 per unit of risk. If you would invest  734.00  in Sprint Corporation on June 17, 2019 and sell it today you would lose (12.00)  from holding Sprint Corporation or give up 1.63% of portfolio value over 30 days.

Pair Corralation between Sprint and NASDAQ UK

Time Period2 Months [change]
ValuesDaily Returns

Diversification Opportunities for Sprint and NASDAQ UK

Sprint Corp. diversification synergy

Good diversification

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