Correlation Analysis Between Straits Tms and Taiwan Wtd

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

Straits Tms  vs.  Taiwan Wtd

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Straits Tms is expected to generate 0.56 times more return on investment than Taiwan Wtd. However, Straits Tms is 1.8 times less risky than Taiwan Wtd. It trades about -0.1 of its potential returns per unit of risk. Taiwan Wtd is currently generating about -0.18 per unit of risk. If you would invest  313,934  in Straits Tms on September 18, 2018 and sell it today you would lose (6,967)  from holding Straits Tms or give up 2.22% of portfolio value over 30 days.

Pair Corralation between Straits Tms and Taiwan Wtd

0.0
Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Pay attention

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

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