Correlation Analysis Between NYSE and Straits Tms

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

NYSE  vs.  Straits Tms

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, NYSE is expected to under-perform the Straits Tms. In addition to that, NYSE is 1.12 times more volatile than Straits Tms. It trades about -0.22 of its total potential returns per unit of risk. Straits Tms is currently generating about -0.18 per unit of volatility. If you would invest  317,657  in Straits Tms on September 19, 2018 and sell it today you would lose (11,406)  from holding Straits Tms or give up 3.59% of portfolio value over 30 days.

Pair Corralation between NYSE and Straits Tms

0.94
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

Almost no diversification

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

 Predicted Return Density 
      Returns 

My Equities

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1096.46

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