Correlation Analysis Between Straits Tms and IPC

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

Straits Tms  vs.  IPC

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Straits Tms is expected to under-perform the IPC. But the index apears to be less risky and, when comparing its historical volatility, Straits Tms is 1.12 times less risky than IPC. The index trades about -0.14 of its potential returns per unit of risk. The IPC is currently generating about 0.19 of returns per unit of risk over similar time horizon. If you would invest  4,805,906  in IPC on August 20, 2018 and sell it today you would earn a total of  160,277  from holding IPC or generate 3.34% return on investment over 30 days.

Pair Corralation between Straits Tms and IPC

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 IPC in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on IPC 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 IPC. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of IPC has no effect on the direction of Straits Tms i.e. Straits Tms and IPC go up and down completely randomly.
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Comparative Volatility

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