Pair Correlation Between Straits Tms and DAX

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

Pair Volatility

Given the investment horizon of 30 days, Straits Tms is expected to generate 0.76 times more return on investment than DAX. However, Straits Tms is 1.32 times less risky than DAX. It trades about -0.17 of its potential returns per unit of risk. DAX is currently generating about -0.32 per unit of risk. If you would invest  355,036  in Straits Tms on January 19, 2018 and sell it today you would lose (10,685)  from holding Straits Tms or give up 3.01% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Straits Tms and DAX


Time Period1 Month [change]
StrengthVery Strong
ValuesDaily Returns


Almost no diversification

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

Comparative Volatility

 Predicted Return Density