Correlation Analysis Between Hang Seng and Russia TR

This module allows you to analyze existing cross correlation between Hang Seng and Russia TR. You can compare the effects of market volatilities on Hang Seng and Russia TR 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 Russia TR. See also your portfolio center. Please also check ongoing floating volatility patterns of Hang Seng and Russia TR.
Horizon     30 Days    Login   to change
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Comparative Performance

 Predicted Return Density 
      Returns 

Hang Seng  vs.  Russia TR

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Hang Seng is expected to under-perform the Russia TR. In addition to that, Hang Seng is 1.1 times more volatile than Russia TR. It trades about -0.09 of its total potential returns per unit of risk. Russia TR is currently generating about 0.05 per unit of volatility. If you would invest  143,537  in Russia TR on September 21, 2019 and sell it today you would earn a total of  2,772  from holding Russia TR or generate 1.93% return on investment over 30 days.

Pair Corralation between Hang Seng and Russia TR

0.02
Time Period3 Months [change]
DirectionPositive 
StrengthInsignificant
Accuracy69.49%
ValuesDaily Returns

Diversification Opportunities for Hang Seng and Russia TR

Hang Seng diversification synergy

Significant diversification

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