Pair Correlation Between ATX and BSE

This module allows you to analyze existing cross correlation between ATX and BSE. You can compare the effects of market volatilities on ATX and BSE 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 ATX with a short position of BSE. See also your portfolio center. Please also check ongoing floating volatility patterns of ATX and BSE.
 Time Horizon     30 Days    Login   to change
 ATX  vs   BSE
 Performance (%) 

Pair Volatility

Given the investment horizon of 30 days, ATX is expected to generate 0.88 times more return on investment than BSE. However, ATX is 1.13 times less risky than BSE. It trades about 0.08 of its potential returns per unit of risk. BSE is currently generating about -0.12 per unit of risk. If you would invest  340,296  in ATX on February 18, 2018 and sell it today you would earn a total of  4,075  from holding ATX or generate 1.2% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between ATX and BSE


Time Period1 Month [change]
ValuesDaily Returns


Very weak diversification

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

Comparative Volatility

 Predicted Return Density