Pair Correlation Between Shanghai and ATX

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

Pair Volatility

Assuming 30 trading days horizon, Shanghai is expected to under-perform the ATX. In addition to that, Shanghai is 1.24 times more volatile than ATX. It trades about -0.13 of its total potential returns per unit of risk. ATX is currently generating about 0.03 per unit of volatility. If you would invest  341,726  in ATX on February 22, 2018 and sell it today you would earn a total of  2,042  from holding ATX or generate 0.6% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Shanghai and ATX


Time Period1 Month [change]
ValuesDaily Returns


Very weak diversification

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

Comparative Volatility

 Predicted Return Density