Pair Correlation Between Russell 2000 and Straits Tms

This module allows you to analyze existing cross correlation between Russell 2000 and Straits Tms. You can compare the effects of market volatilities on Russell 2000 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 Russell 2000 with a short position of Straits Tms. See also your portfolio center. Please also check ongoing floating volatility patterns of Russell 2000 and Straits Tms.
 Time Horizon     30 Days    Login   to change
 Russell 2000   vs   Straits Tms
 Performance (%) 

Pair Volatility

Given the investment horizon of 30 days, Russell 2000 is expected to generate 1.11 times less return on investment than Straits Tms. In addition to that, Russell 2000 is 1.24 times more volatile than Straits Tms. It trades about 0.26 of its total potential returns per unit of risk. Straits Tms is currently generating about 0.36 per unit of volatility. If you would invest  341,482  in Straits Tms on December 17, 2017 and sell it today you would earn a total of  10,574  from holding Straits Tms or generate 3.1% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Russell 2000 and Straits Tms


Time Period1 Month [change]
ValuesDaily Returns


Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Russell 2000 and Straits Tms in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Straits Tms and Russell 2000 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 Russell 2000 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 Russell 2000 i.e. Russell 2000 and Straits Tms go up and down completely randomly.

Comparative Volatility

 Predicted Return Density