Correlation Analysis Between Straits Tms and OMXRGI

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

Straits Tms  vs.  OMXRGI

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Straits Tms is expected to generate 1.09 times more return on investment than OMXRGI. However, Straits Tms is 1.09 times more volatile than OMXRGI. It trades about 0.02 of its potential returns per unit of risk. OMXRGI is currently generating about -0.13 per unit of risk. If you would invest  328,740  in Straits Tms on June 22, 2018 and sell it today you would earn a total of  1,043  from holding Straits Tms or generate 0.32% return on investment over 30 days.

Pair Corralation between Straits Tms and OMXRGI

0.35
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy77.78%
ValuesDaily Returns

Diversification

Weak diversification

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

 Predicted Return Density 
      Returns 

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