Correlation Analysis Between Straits Tms and CAC 40

This module allows you to analyze existing cross correlation between Straits Tms and CAC 40. You can compare the effects of market volatilities on Straits Tms and CAC 40 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 CAC 40. See also your portfolio center. Please also check ongoing floating volatility patterns of Straits Tms and CAC 40.
Horizon     30 Days    Login   to change
Symbolsvs

Straits Tms  vs.  CAC 40

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Straits Tms is expected to under-perform the CAC 40. But the index apears to be less risky and, when comparing its historical volatility, Straits Tms is 1.39 times less risky than CAC 40. The index trades about -0.06 of its potential returns per unit of risk. The CAC 40 is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest  541,933  in CAC 40 on August 23, 2018 and sell it today you would earn a total of  7,484  from holding CAC 40 or generate 1.38% return on investment over 30 days.

Pair Corralation between Straits Tms and CAC 40

0.85
Time Period1 Month [change]
DirectionPositive 
StrengthStrong
Accuracy95.65%
ValuesDaily Returns

Diversification

Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Straits Tms and CAC 40 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on CAC 40 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 CAC 40. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CAC 40 has no effect on the direction of Straits Tms i.e. Straits Tms and CAC 40 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
$1166.09

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 Balance Of Power module to check stock momentum by analyzing balance of power indicator and other technical ratios.


 
Search macroaxis.com