Correlation Analysis Between Walmart and NASDAQ UK

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

 Predicted Return Density 
      Returns 

Walmart Inc  vs.  NASDAQ UK

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, Walmart is expected to generate 1.75 times more return on investment than NASDAQ UK. However, Walmart is 1.75 times more volatile than NASDAQ UK. It trades about 0.02 of its potential returns per unit of risk. NASDAQ UK is currently generating about -0.23 per unit of risk. If you would invest  11,016  in Walmart on July 26, 2019 and sell it today you would earn a total of  67.00  from holding Walmart or generate 0.61% return on investment over 30 days.

Pair Corralation between Walmart and NASDAQ UK

0.52
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Walmart and NASDAQ UK

Walmart Inc diversification synergy

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Walmart Inc and NASDAQ UK in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NASDAQ UK and Walmart 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 Walmart 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 Walmart i.e. Walmart and NASDAQ UK go up and down completely randomly.
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See also your portfolio center. Please also try Technical Analysis module to check basic technical indicators and analysis based on most latest market data.


 
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