Correlation Analysis Between SPDR SP and NIKKEI 225

This module allows you to analyze existing cross correlation between SPDR SP Semiconductor ETF and NIKKEI 225. You can compare the effects of market volatilities on SPDR SP 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 SPDR SP with a short position of NIKKEI 225. See also your portfolio center. Please also check ongoing floating volatility patterns of SPDR SP and NIKKEI 225.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

Comparative Performance

 Predicted Return Density 
      Returns 

SPDR SP Semiconductor ETF  vs.  NIKKEI 225

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, SPDR SP Semiconductor ETF is expected to generate 2.04 times more return on investment than NIKKEI 225. However, SPDR SP is 2.04 times more volatile than NIKKEI 225. It trades about 0.04 of its potential returns per unit of risk. NIKKEI 225 is currently generating about 0.03 per unit of risk. If you would invest  8,802  in SPDR SP Semiconductor ETF on September 14, 2019 and sell it today you would earn a total of  273.00  from holding SPDR SP Semiconductor ETF or generate 3.1% return on investment over 30 days.

Pair Corralation between SPDR SP and NIKKEI 225

-0.36
Time Period3 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy95.52%
ValuesDaily Returns

Diversification Opportunities for SPDR SP and NIKKEI 225

SPDR SP Semiconductor ETF diversification synergy

Very good diversification

Overlapping area represents the amount of risk that can be diversified away by holding SPDR SP Semiconductor ETF and NIKKEI 225 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NIKKEI 225 and SPDR SP 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 SPDR SP Semiconductor ETF 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 SPDR SP i.e. SPDR SP and NIKKEI 225 go up and down completely randomly.
    Optimize
See also your portfolio center. Please also try Content Syndication module to quickly integrate customizable finance content to your own investment portal.


 
Search macroaxis.com