Correlation Analysis Between Straits Tms and NZSE

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

Straits Tms  vs.  NZSE

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Straits Tms is expected to generate 0.83 times more return on investment than NZSE. However, Straits Tms is 1.21 times less risky than NZSE. It trades about -0.27 of its potential returns per unit of risk. NZSE is currently generating about -0.26 per unit of risk. If you would invest  321,768  in Straits Tms on September 21, 2018 and sell it today you would lose (15,517)  from holding Straits Tms or give up 4.82% of portfolio value over 30 days.

Pair Corralation between Straits Tms and NZSE

0.96
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy95.45%
ValuesDaily Returns

Diversification

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding Straits Tms and NZSE in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NZSE 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 NZSE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NZSE has no effect on the direction of Straits Tms i.e. Straits Tms and NZSE 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
$1096.46

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