Correlation Analysis Between NQFI and Straits Tms

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

NQFI  vs.  Straits Tms

 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, NQFI is expected to under-perform the Straits Tms. In addition to that, NQFI is 1.47 times more volatile than Straits Tms. It trades about -0.07 of its total potential returns per unit of risk. Straits Tms is currently generating about 0.05 per unit of volatility. If you would invest  304,597  in Straits Tms on November 13, 2018 and sell it today you would earn a total of  5,402  from holding Straits Tms or generate 1.77% return on investment over 30 days.

Pair Corralation between NQFI and Straits Tms

Time Period2 Months [change]
ValuesDaily Returns


NQFI diversification synergy

Good diversification

Overlapping area represents the amount of risk that can be diversified away by holding NQFI and Straits Tms in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Straits Tms and NQFI 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 NQFI 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 NQFI i.e. NQFI and Straits Tms go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 

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See also your portfolio center. Please also try Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.