Pair Correlation Between OMXRGI and Bursa Malaysia

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

OMXRGI  vs.  Bursa Malaysia

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, OMXRGI is expected to generate 1.67 times more return on investment than Bursa Malaysia. However, OMXRGI is 1.67 times more volatile than Bursa Malaysia. It trades about 0.09 of its potential returns per unit of risk. Bursa Malaysia is currently generating about 0.08 per unit of risk. If you would invest  101,468  in OMXRGI on March 24, 2018 and sell it today you would earn a total of  3,668  from holding OMXRGI or generate 3.62% return on investment over 30 days.

Pair Corralation between OMXRGI and Bursa Malaysia

-0.65
Time Period2 Months [change]
DirectionNegative 
StrengthWeak
Accuracy89.36%
ValuesDaily Returns

Diversification

Excellent diversification

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

 Predicted Return Density 
      Returns 

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