Correlation Analysis Between Straits Tms and Madrid Gnrl

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

Comparative Performance

 Predicted Return Density 

Straits Tms  vs.  Madrid Gnrl

 Performance (%) 

Pair Volatility

Given the investment horizon of 30 days, Straits Tms is expected to generate 1.04 times more return on investment than Madrid Gnrl. However, Straits Tms is 1.04 times more volatile than Madrid Gnrl. It trades about -0.01 of its potential returns per unit of risk. Madrid Gnrl is currently generating about -0.03 per unit of risk. If you would invest  306,251  in Straits Tms on November 18, 2018 and sell it today you would lose (1,697)  from holding Straits Tms or give up 0.55% of portfolio value over 30 days.

Pair Corralation between Straits Tms and Madrid Gnrl

Time Period2 Months [change]
ValuesDaily Returns

Diversification Opportunities for Straits Tms and Madrid Gnrl

Straits Tms diversification synergy

Average diversification

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

Thematic Opportunities

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See also your portfolio center. Please also try Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.