Correlation Analysis Between Straits Tms and ATX

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

Straits Tms  vs.  ATX

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Straits Tms is expected to generate 0.79 times more return on investment than ATX. However, Straits Tms is 1.27 times less risky than ATX. It trades about -0.01 of its potential returns per unit of risk. ATX is currently generating about -0.14 per unit of risk. If you would invest  313,148  in Straits Tms on November 9, 2018 and sell it today you would lose (2,036)  from holding Straits Tms or give up 0.65% of portfolio value over 30 days.

Pair Corralation between Straits Tms and ATX

-0.01
Time Period2 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy91.3%
ValuesDaily Returns

Diversification

Straits Tms diversification synergy

Good diversification

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

 Predicted Return Density 
      Returns 

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