Correlation Analysis Between ETFS Wheat and OTP Bank

This module allows you to analyze existing cross correlation between ETFS Wheat ETC and OTP Bank Plc. You can compare the effects of market volatilities on ETFS Wheat and OTP 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 OTP Bank. See also your portfolio center. Please also check ongoing floating volatility patterns of ETFS Wheat and OTP Bank.
Horizon     30 Days    Login   to change
Symbolsvs
Compare Efficiency

Comparative Performance

ETFS Wheat ETC  
0

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.
OTP Bank Plc  
0

Risk-Adjusted Performance

Over the last 30 days OTP Bank Plc has generated negative risk-adjusted returns adding no value to investors with long positions.

ETFS Wheat and OTP Bank Volatility Contrast

 Predicted Return Density 
      Returns 

ETFS Wheat ETC  vs.  OTP Bank Plc

 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  1,123,000  in OTP Bank Plc on January 23, 2019 and sell it today you would earn a total of  0.00  from holding OTP Bank Plc or generate 0.0% return on investment over 30 days.

Pair Corralation between ETFS Wheat and OTP Bank

-0.02
Time Period2 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy55.56%
ValuesDaily Returns

Diversification Opportunities for ETFS Wheat and OTP Bank

ETFS Wheat ETC diversification synergy

Good diversification

Overlapping area represents the amount of risk that can be diversified away by holding ETFS Wheat ETC and OTP Bank Plc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on OTP Bank Plc 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 OTP Bank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of OTP Bank Plc has no effect on the direction of ETFS Wheat i.e. ETFS Wheat and OTP Bank go up and down completely randomly.

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Money Managers module to screen money managers from public funds and etfs managed around the world.


 
Search macroaxis.com