Correlation Between WIG 30 and SPASX Dividend
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By analyzing existing cross correlation between WIG 30 and SPASX Dividend Opportunities, you can compare the effects of market volatilities on WIG 30 and SPASX Dividend 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 WIG 30 with a short position of SPASX Dividend. Check out your portfolio center. Please also check ongoing floating volatility patterns of WIG 30 and SPASX Dividend.
Diversification Opportunities for WIG 30 and SPASX Dividend
0.07 | Correlation Coefficient |
Significant diversification
The 3 months correlation between WIG and SPASX is 0.07. Overlapping area represents the amount of risk that can be diversified away by holding WIG 30 and SPASX Dividend Opportunities in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SPASX Dividend Oppor and WIG 30 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 WIG 30 are associated (or correlated) with SPASX Dividend. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SPASX Dividend Oppor has no effect on the direction of WIG 30 i.e., WIG 30 and SPASX Dividend go up and down completely randomly.
Pair Corralation between WIG 30 and SPASX Dividend
Assuming the 90 days trading horizon WIG 30 is expected to generate 1.76 times more return on investment than SPASX Dividend. However, WIG 30 is 1.76 times more volatile than SPASX Dividend Opportunities. It trades about 0.06 of its potential returns per unit of risk. SPASX Dividend Opportunities is currently generating about -0.03 per unit of risk. If you would invest 298,505 in WIG 30 on February 1, 2024 and sell it today you would earn a total of 8,539 from holding WIG 30 or generate 2.86% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Insignificant |
Accuracy | 97.5% |
Values | Daily Returns |
WIG 30 vs. SPASX Dividend Opportunities
Performance |
Timeline |
WIG 30 and SPASX Dividend Volatility Contrast
Predicted Return Density |
Returns |
WIG 30
Pair trading matchups for WIG 30
SPASX Dividend Opportunities
Pair trading matchups for SPASX Dividend
Pair Trading with WIG 30 and SPASX Dividend
The main advantage of trading using opposite WIG 30 and SPASX Dividend positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if WIG 30 position performs unexpectedly, SPASX Dividend can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in SPASX Dividend will offset losses from the drop in SPASX Dividend's long position.WIG 30 vs. Femion Technology SA | WIG 30 vs. Live Motion Games | WIG 30 vs. Vivid Games SA | WIG 30 vs. VR Factory Games |
SPASX Dividend vs. Gold Road Resources | SPASX Dividend vs. Allegra Medical Technologies | SPASX Dividend vs. Australian Agricultural | SPASX Dividend vs. Queste Communications |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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