Correlation Analysis Between Square and XU100

This module allows you to analyze existing cross correlation between Square and XU100. You can compare the effects of market volatilities on Square and XU100 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 Square with a short position of XU100. See also your portfolio center. Please also check ongoing floating volatility patterns of Square and XU100.
Horizon     30 Days    Login   to change
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Comparative Performance

 Predicted Return Density 
      Returns 

Square Inc  vs.  XU100

 Performance (%) 
      Timeline 

Pair Volatility

Allowing for the 30-days total investment horizon, Square is expected to under-perform the XU100. In addition to that, Square is 4.95 times more volatile than XU100. It trades about -0.1 of its total potential returns per unit of risk. XU100 is currently generating about 0.34 per unit of volatility. If you would invest  10,060,499  in XU100 on August 17, 2019 and sell it today you would earn a total of  150,263  from holding XU100 or generate 1.49% return on investment over 30 days.

Pair Corralation between Square and XU100

0.21
Time Period3 Months [change]
DirectionPositive 
StrengthVery Weak
Accuracy12.5%
ValuesDaily Returns

Diversification Opportunities for Square and XU100

Square Inc diversification synergy

Modest diversification

Overlapping area represents the amount of risk that can be diversified away by holding Square Inc and XU100 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on XU100 and Square 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 Square are associated (or correlated) with XU100. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of XU100 has no effect on the direction of Square i.e. Square and XU100 go up and down completely randomly.
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