Correlation Analysis Between Walmart and XU100

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

 Predicted Return Density 
      Returns 

Walmart Inc  vs.  XU100

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, Walmart is expected to generate 4.58 times less return on investment than XU100. But when comparing it to its historical volatility, Walmart is 1.07 times less risky than XU100. It trades about 0.01 of its potential returns per unit of risk. XU100 is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest  9,557,312  in XU100 on July 25, 2019 and sell it today you would earn a total of  157,592  from holding XU100 or generate 1.65% return on investment over 30 days.

Pair Corralation between Walmart and XU100

-0.05
Time Period2 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy95.45%
ValuesDaily Returns

Diversification Opportunities for Walmart and XU100

Walmart Inc diversification synergy

Good diversification

Overlapping area represents the amount of risk that can be diversified away by holding Walmart Inc and XU100 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on XU100 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 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 Walmart i.e. Walmart and XU100 go up and down completely randomly.
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