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.
 Time Horizon     30 Days    Login   to change
Symbolsvs

Straits Tms  vs.  Madrid Gnrl

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Straits Tms is expected to under-perform the Madrid Gnrl. But the index apears to be less risky and, when comparing its historical volatility, Straits Tms is 1.34 times less risky than Madrid Gnrl. The index trades about -0.47 of its potential returns per unit of risk. The Madrid Gnrl is currently generating about -0.13 of returns per unit of risk over similar time horizon. If you would invest  101,883  in Madrid Gnrl on May 21, 2018 and sell it today you would lose (3,207)  from holding Madrid Gnrl or give up 3.15% of portfolio value over 30 days.

Pair Corralation between Straits Tms and Madrid Gnrl

0.26
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy86.96%
ValuesDaily Returns

Diversification

Modest 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.
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Comparative Volatility

 Predicted Return Density 
      Returns 

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See also your portfolio center. Please also try Coins and Tokens Correlation module to utilize digital token correlation table to build portfolio of cryptocurrencies across multiple exchanges.