Correlation Analysis Between Straits Tms and BSE

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

Straits Tms  vs.  BSE

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Straits Tms is expected to under-perform the BSE. In addition to that, Straits Tms is 1.45 times more volatile than BSE. It trades about -0.11 of its total potential returns per unit of risk. BSE is currently generating about 0.15 per unit of volatility. If you would invest  3,554,733  in BSE on June 19, 2018 and sell it today you would earn a total of  80,390  from holding BSE or generate 2.26% return on investment over 30 days.

Pair Corralation between Straits Tms and BSE

0.34
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy72.41%
ValuesDaily Returns

Diversification

Weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Straits Tms and BSE in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on BSE 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 BSE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BSE has no effect on the direction of Straits Tms i.e. Straits Tms and BSE 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
$1186.76

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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.