Correlation Analysis Between SPTSX Comp and Bursa Malaysia

This module allows you to analyze existing cross correlation between SPTSX Comp and Bursa Malaysia. You can compare the effects of market volatilities on SPTSX Comp and Bursa Malaysia 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 SPTSX Comp with a short position of Bursa Malaysia. See also your portfolio center. Please also check ongoing floating volatility patterns of SPTSX Comp and Bursa Malaysia.
Horizon     30 Days    Login   to change
Symbolsvs
Compare Efficiency

Comparative Performance

 Predicted Return Density 
      Returns 

SPTSX Comp  vs.  Bursa Malaysia

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, SPTSX Comp is expected to under-perform the Bursa Malaysia. In addition to that, SPTSX Comp is 1.4 times more volatile than Bursa Malaysia. It trades about -0.12 of its total potential returns per unit of risk. Bursa Malaysia is currently generating about -0.12 per unit of volatility. If you would invest  172,874  in Bursa Malaysia on November 14, 2018 and sell it today you would lose (5,274)  from holding Bursa Malaysia or give up 3.05% of portfolio value over 30 days.

Pair Corralation between SPTSX Comp and Bursa Malaysia

0.57
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy93.33%
ValuesDaily Returns

Diversification Opportunities for SPTSX Comp and Bursa Malaysia

SPTSX Comp diversification synergy

Very weak diversification

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

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 Instant Ratings module to determine any equity ratings based on digital recommendations. macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.


 
Search macroaxis.com