Correlation Analysis Between IBEX 35 and Straits Tms

This module allows you to analyze existing cross correlation between IBEX 35 and Straits Tms. You can compare the effects of market volatilities on IBEX 35 and Straits Tms 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 IBEX 35 with a short position of Straits Tms. See also your portfolio center. Please also check ongoing floating volatility patterns of IBEX 35 and Straits Tms.
Horizon     30 Days    Login   to change

IBEX 35  vs.  Straits Tms

 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, IBEX 35 is expected to generate 1.09 times more return on investment than Straits Tms. However, IBEX 35 is 1.09 times more volatile than Straits Tms. It trades about 0.02 of its potential returns per unit of risk. Straits Tms is currently generating about -0.02 per unit of risk. If you would invest  907,470  in IBEX 35 on October 17, 2018 and sell it today you would earn a total of  3,600  from holding IBEX 35 or generate 0.4% return on investment over 30 days.

Pair Corralation between IBEX 35 and Straits Tms

Time Period1 Month [change]
ValuesDaily Returns


IBEX 35 diversification synergy

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding IBEX 35 and Straits Tms in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Straits Tms and IBEX 35 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 IBEX 35 are associated (or correlated) with Straits Tms. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Straits Tms has no effect on the direction of IBEX 35 i.e. IBEX 35 and Straits Tms go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 

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