Correlation Analysis Between SPTSX Comp and OSE All

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

SPTSX Comp  vs.  OSE All

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, SPTSX Comp is expected to under-perform the OSE All. But the index apears to be less risky and, when comparing its historical volatility, SPTSX Comp is 2.0 times less risky than OSE All. The index trades about -0.02 of its potential returns per unit of risk. The OSE All is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest  102,141  in OSE All on August 20, 2018 and sell it today you would earn a total of  1,609  from holding OSE All or generate 1.58% return on investment over 30 days.

Pair Corralation between SPTSX Comp and OSE All

0.29
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Modest diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

My Equities

My Current Equities and Potential Positions

View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1169.73

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 Flow Index module to determine momentum by analyzing money flow index and other technical indicators.


 
Search macroaxis.com