By analyzing existing cross correlation between ALROSA NYURBA PJSC and MOSCOW EXCHANGE, you can compare the effects of market volatilities on ALROSA NYURBA and MOSCOW EXCHANGE 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 ALROSA NYURBA with a short position of MOSCOW EXCHANGE. Check out your portfolio center. Please also check ongoing floating volatility patterns of ALROSA NYURBA and MOSCOW EXCHANGE.

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Can any of the company-specific risk be diversified away by investing in both ALROSA NYURBA and MOSCOW EXCHANGE at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining ALROSA NYURBA and MOSCOW EXCHANGE into the same portfolio, which is an essential part of the fundamental portfolio management process.

Diversification Opportunities for ALROSA NYURBA and MOSCOW EXCHANGE

  Correlation Coefficient

Pay attention - limited upside

The 3 months correlation between ALROSA and MOSCOW is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding ALROSA NYURBA PJSC and MOSCOW EXCHANGE in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on MOSCOW EXCHANGE and ALROSA NYURBA 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 ALROSA NYURBA PJSC are associated (or correlated) with MOSCOW EXCHANGE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MOSCOW EXCHANGE has no effect on the direction of ALROSA NYURBA i.e. ALROSA NYURBA and MOSCOW EXCHANGE go up and down completely randomly.

Pair Corralation between ALROSA NYURBA and MOSCOW EXCHANGE

If you would invest  11,337  in MOSCOW EXCHANGE on June 15, 2020 and sell it today you would earn a total of  1,309  from holding MOSCOW EXCHANGE or generate 11.55% return on investment over 30 days.
Time Period3 Months [change]
ValuesDaily Returns


 Performance (%) 

ALROSA NYURBA Risk-Adjusted Performance

Over the last 30 days ALROSA NYURBA PJSC has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound basic indicators, ALROSA NYURBA is not utilizing all of its potentials. The current stock price tumult, may contribute to shorter-term losses for the shareholders.

MOSCOW EXCHANGE Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in MOSCOW EXCHANGE are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days. In spite of rather weak basic indicators, MOSCOW EXCHANGE exhibited solid returns over the last few months and may actually be approaching a breakup point.


Check out your portfolio center. Please also try Price Ceiling Movement module to calculate and plot price ceiling movement for different equity instruments.

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