Correlation Analysis Between Bursa Malaysia and Bovespa

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

Bursa Malaysia  vs.  Bovespa

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bursa Malaysia is expected to under-perform the Bovespa. But the index apears to be less risky and, when comparing its historical volatility, Bursa Malaysia is 2.54 times less risky than Bovespa. The index trades about -0.16 of its potential returns per unit of risk. The Bovespa is currently generating about 0.11 of returns per unit of risk over similar time horizon. If you would invest  8,216,306  in Bovespa on November 13, 2018 and sell it today you would earn a total of  567,453  from holding Bovespa or generate 6.91% return on investment over 30 days.

Pair Corralation between Bursa Malaysia and Bovespa

-0.57
Time Period2 Months [change]
DirectionNegative 
StrengthVery Weak
Accuracy97.62%
ValuesDaily Returns

Diversification

Bursa Malaysia diversification synergy

Excellent diversification

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

 Predicted Return Density 
      Returns 

My Equities

My Current Equities and Potential Positions

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TGT - USA Stock
Target Corporation
Specialization
Consumer, Diversified Wholesale And Retail
RegionNorth America
ExchangeNew York Stock Exchange
$66.68

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See also your portfolio center. Please also try Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.


 
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