This module allows you to analyze existing cross correlation between ETFS Wheat ETC and Nordea Bank AB. You can compare the effects of market volatilities on ETFS Wheat and Nordea Bank 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 ETFS Wheat with a short position of Nordea Bank. See also
your portfolio center. Please also check ongoing floating volatility patterns of
ETFS Wheat and
Nordea Bank.
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Horizon
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30 Days
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Comparative Performance
Risk-Adjusted Performance
Over the last 30 days ETFS Wheat ETC has generated negative risk-adjusted returns adding no value to investors with long positions.
Risk-Adjusted Performance
Over the last 30 days Nordea Bank AB has generated negative risk-adjusted returns adding no value to investors with long positions.
ETFS Wheat and Nordea Bank Volatility Contrast
ETFS Wheat ETC vs. Nordea Bank AB
Pair Volatility
If you would invest 9,144 in Nordea Bank AB on January 23, 2019 and sell it today you would earn a total of 0.00 from holding Nordea Bank AB or generate 0.0% return on investment over 30 days.
Pair Corralation between ETFS Wheat and Nordea Bank
0.08
| Time Period | 2 Months [change] |
| Direction | Positive |
| Strength | Insignificant |
| Accuracy | 27.78% |
| Values | Daily Returns |
Diversification Opportunities for ETFS Wheat and Nordea Bank
Significant diversification
Overlapping area represents the amount of risk that can be diversified away by holding ETFS Wheat ETC and Nordea Bank AB in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Nordea Bank AB and ETFS Wheat 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 ETFS Wheat ETC are associated (or correlated) with Nordea Bank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Nordea Bank AB has no effect on the direction of ETFS Wheat i.e. ETFS Wheat and Nordea Bank go up and down completely randomly.
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