Pair Correlation Between Taiwan Wtd and NYSE

This module allows you to analyze existing cross correlation between Taiwan Wtd and NYSE. You can compare the effects of market volatilities on Taiwan Wtd and NYSE 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 Taiwan Wtd with a short position of NYSE. See also your portfolio center. Please also check ongoing floating volatility patterns of Taiwan Wtd and NYSE.
 Time Horizon     30 Days    Login   to change
 Taiwan Wtd  vs   NYSE
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Taiwan Wtd is expected to under-perform the NYSE. But the index apears to be less risky and, when comparing its historical volatility, Taiwan Wtd is 1.01 times less risky than NYSE. The index trades about -0.3 of its potential returns per unit of risk. The NYSE is currently generating about -0.14 of returns per unit of risk over similar time horizon. If you would invest  1,347,038  in NYSE on January 22, 2018 and sell it today you would lose (59,602)  from holding NYSE or give up 4.42% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Taiwan Wtd and NYSE


Time Period1 Month [change]
ValuesDaily Returns


Very weak diversification

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

Comparative Volatility

 Predicted Return Density