Correlation Analysis Between Bursa Malaysia and NQEGT

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

 Predicted Return Density 
      Returns 

Bursa Malaysia  vs.  NQEGT

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bursa Malaysia is expected to generate 13.5 times less return on investment than NQEGT. But when comparing it to its historical volatility, Bursa Malaysia is 1.87 times less risky than NQEGT. It trades about 0.08 of its potential returns per unit of risk. NQEGT is currently generating about 0.58 of returns per unit of risk over similar time horizon. If you would invest  103,934  in NQEGT on January 21, 2019 and sell it today you would earn a total of  24,949  from holding NQEGT or generate 24.0% return on investment over 30 days.

Pair Corralation between Bursa Malaysia and NQEGT

0.45
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy86.11%
ValuesDaily Returns

Diversification Opportunities for Bursa Malaysia and NQEGT

Bursa Malaysia diversification synergy

Very weak diversification

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