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 under-perform the EURONEXT BEL-20. In addition to that, Straits Tms is 1.01 times more volatile than EURONEXT BEL-20. It trades about -0.14 of its total potential returns per unit of risk. EURONEXT BEL-20 is currently generating about -0.07 per unit of volatility. If you would invest  377,563  in EURONEXT BEL-20 on August 20, 2018 and sell it today you would lose (4,476)  from holding EURONEXT BEL-20 or give up 1.19% of portfolio value over 30 days.

Pair Corralation between Straits Tms and EURONEXT BEL-20

0.0
Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy91.3%
ValuesDaily Returns

Diversification

Pay attention

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.
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Comparative Volatility

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