Correlation Analysis Between Hang Seng and Bursa Malaysia

This module allows you to analyze existing cross correlation between Hang Seng and Bursa Malaysia. You can compare the effects of market volatilities on Hang Seng and Bursa Malaysia 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 Hang Seng with a short position of Bursa Malaysia. See also your portfolio center. Please also check ongoing floating volatility patterns of Hang Seng and Bursa Malaysia.
Horizon     30 Days    Login   to change
Symbolsvs
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Comparative Performance

 Predicted Return Density 
      Returns 

Hang Seng  vs.  Bursa Malaysia

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Hang Seng is expected to generate 1.96 times more return on investment than Bursa Malaysia. However, Hang Seng is 1.96 times more volatile than Bursa Malaysia. It trades about 0.35 of its potential returns per unit of risk. Bursa Malaysia is currently generating about 0.07 per unit of risk. If you would invest  2,575,342  in Hang Seng on January 20, 2019 and sell it today you would earn a total of  247,471  from holding Hang Seng or generate 9.61% return on investment over 30 days.

Pair Corralation between Hang Seng and Bursa Malaysia

0.33
Time Period2 Months [change]
DirectionPositive 
StrengthVery Weak
Accuracy81.25%
ValuesDaily Returns

Diversification Opportunities for Hang Seng and Bursa Malaysia

Hang Seng diversification synergy

Weak diversification

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