Correlation Analysis Between Straits Tms and NIKKEI 225

This module allows you to analyze existing cross correlation between Straits Tms and NIKKEI 225. You can compare the effects of market volatilities on Straits Tms and NIKKEI 225 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 NIKKEI 225. See also your portfolio center. Please also check ongoing floating volatility patterns of Straits Tms and NIKKEI 225.
 Time Horizon     30 Days    Login   to change
Symbolsvs

Straits Tms  vs.  NIKKEI 225

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Straits Tms is expected to generate 1.16 times more return on investment than NIKKEI 225. However, Straits Tms is 1.16 times more volatile than NIKKEI 225. It trades about -0.01 of its potential returns per unit of risk. NIKKEI 225 is currently generating about -0.12 per unit of risk. If you would invest  323,964  in Straits Tms on July 17, 2018 and sell it today you would lose (552.00)  from holding Straits Tms or give up 0.17% of portfolio value over 30 days.

Pair Corralation between Straits Tms and NIKKEI 225

-0.61
Time Period1 Month [change]
DirectionNegative 
StrengthWeak
Accuracy72.41%
ValuesDaily Returns

Diversification

Excellent diversification

Overlapping area represents the amount of risk that can be diversified away by holding Straits Tms and NIKKEI 225 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NIKKEI 225 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 NIKKEI 225. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NIKKEI 225 has no effect on the direction of Straits Tms i.e. Straits Tms and NIKKEI 225 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
$1235.01

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 Piotroski F Score module to get piotroski f score based on binary analysis strategy of nine different fundamentals.