Pair Correlation Between Taiwan Wtd and Stockholm

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

Pair Volatility

Assuming 30 trading days horizon, Taiwan Wtd is expected to generate 0.65 times more return on investment than Stockholm. However, Taiwan Wtd is 1.54 times less risky than Stockholm. It trades about 0.24 of its potential returns per unit of risk. Stockholm is currently generating about -0.16 per unit of risk. If you would invest  1,066,238  in Taiwan Wtd on February 22, 2018 and sell it today you would earn a total of  34,346  from holding Taiwan Wtd or generate 3.22% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Taiwan Wtd and Stockholm


Time Period1 Month [change]
ValuesDaily Returns


Very good diversification

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

Comparative Volatility

 Predicted Return Density