Correlation Analysis Between Straits Tms and EURONEXT BEL-20

This module allows you to analyze existing cross correlation between Straits Tms and EURONEXT BEL-20. You can compare the effects of market volatilities on Straits Tms and EURONEXT BEL-20 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 EURONEXT BEL-20. See also your portfolio center. Please also check ongoing floating volatility patterns of Straits Tms and EURONEXT BEL-20.
Horizon     30 Days    Login   to change
Symbolsvs

Straits Tms  vs.  EURONEXT BEL-20

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Straits Tms is expected to generate 0.83 times more return on investment than EURONEXT BEL-20. However, Straits Tms is 1.21 times less risky than EURONEXT BEL-20. It trades about 0.06 of its potential returns per unit of risk. EURONEXT BEL-20 is currently generating about -0.11 per unit of risk. If you would invest  304,739  in Straits Tms on November 10, 2018 and sell it today you would earn a total of  6,373  from holding Straits Tms or generate 2.09% return on investment over 30 days.

Pair Corralation between Straits Tms and EURONEXT BEL-20

0.26
Time Period2 Months [change]
DirectionPositive 
StrengthVery Weak
Accuracy93.18%
ValuesDaily Returns

Diversification

Straits Tms diversification synergy

Modest diversification

Overlapping area represents the amount of risk that can be diversified away by holding Straits Tms and EURONEXT BEL-20 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on EURONEXT BEL-20 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 EURONEXT BEL-20. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EURONEXT BEL-20 has no effect on the direction of Straits Tms i.e. Straits Tms and EURONEXT BEL-20 go up and down completely randomly.
    Optimize

Comparative Volatility

 Predicted Return Density 
      Returns 

My Equities

My Current Equities and Potential Positions

View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1038.25

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Equity Valuation module to check real value of public entities based on technical and fundamental data.


 
Search macroaxis.com