Correlation Analysis Between Straits Tms and Russia TR

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

Straits Tms  vs.  Russia TR

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Straits Tms is expected to generate 0.8 times more return on investment than Russia TR. However, Straits Tms is 1.25 times less risky than Russia TR. It trades about 0.0 of its potential returns per unit of risk. Russia TR is currently generating about -0.09 per unit of risk. If you would invest  304,597  in Straits Tms on October 15, 2018 and sell it today you would lose (278.00)  from holding Straits Tms or give up 0.09% of portfolio value over 30 days.

Pair Corralation between Straits Tms and Russia TR

0.36
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy95.65%
ValuesDaily Returns

Diversification

Straits Tms diversification synergy

Weak diversification

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

 Predicted Return Density 
      Returns 

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See also your portfolio center. Please also try Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.


 
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