Correlation Analysis Between Hang Seng and SP 500

This module allows you to analyze existing cross correlation between Hang Seng and S&P 500. You can compare the effects of market volatilities on Hang Seng and SP 500 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 Hang Seng with a short position of SP 500. See also your portfolio center. Please also check ongoing floating volatility patterns of Hang Seng and SP 500.
Horizon     30 Days    Login   to change

Hang Seng  vs.  S&P 500

 Performance (%) 

Pair Volatility

Given the investment horizon of 30 days, Hang Seng is expected to generate 1.58 times more return on investment than SP 500. However, Hang Seng is 1.58 times more volatile than S&P 500. It trades about -0.13 of its potential returns per unit of risk. S&P 500 is currently generating about -0.26 per unit of risk. If you would invest  2,749,939  in Hang Seng on September 23, 2018 and sell it today you would lose (134,624)  from holding Hang Seng or give up 4.9% of portfolio value over 30 days.

Pair Corralation between Hang Seng and SP 500

Time Period1 Month [change]
ValuesDaily Returns


Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Hang Seng and S&P 500 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on SP 500 and Hang Seng 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 Hang Seng are associated (or correlated) with SP 500. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SP 500 has no effect on the direction of Hang Seng i.e. Hang Seng and SP 500 go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 

My Equities

My Current Equities and Potential Positions

View AllNext
GOOG - USA Stock
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway

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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.