Correlation Analysis Between Shanghai and Russia TR

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

Shanghai  vs.  Russia TR

 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Shanghai is expected to generate 1.25 times more return on investment than Russia TR. However, Shanghai is 1.25 times more volatile than Russia TR. It trades about 0.08 of its potential returns per unit of risk. Russia TR is currently generating about -0.07 per unit of risk. If you would invest  257,008  in Shanghai on October 13, 2018 and sell it today you would earn a total of  5,710  from holding Shanghai or generate 2.22% return on investment over 30 days.

Pair Corralation between Shanghai and Russia TR

Time Period1 Month [change]
StrengthVery Weak
ValuesDaily Returns


Shanghai diversification synergy

Weak diversification

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

Comparative Volatility

 Predicted Return Density 

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