Correlation Analysis Between Straits Tms and OSE All

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

Straits Tms  vs.  OSE All

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Straits Tms is expected to under-perform the OSE All. But the index apears to be less risky and, when comparing its historical volatility, Straits Tms is 1.28 times less risky than OSE All. The index trades about -0.17 of its potential returns per unit of risk. The OSE All is currently generating about -0.07 of returns per unit of risk over similar time horizon. If you would invest  101,169  in OSE All on June 17, 2018 and sell it today you would lose (2,235)  from holding OSE All or give up 2.21% of portfolio value over 30 days.

Pair Corralation between Straits Tms and OSE All

0.47
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy68.97%
ValuesDaily Returns

Diversification

Very weak diversification

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

 Predicted Return Density 
      Returns 

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