Correlation Analysis Between Straits Tms and BSE

This module allows you to analyze existing cross correlation between Straits Tms and BSE. You can compare the effects of market volatilities on Straits Tms and BSE 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 Straits Tms with a short position of BSE. See also your portfolio center. Please also check ongoing floating volatility patterns of Straits Tms and BSE.
Horizon     30 Days    Login   to change
Compare Efficiency

Comparative Performance

 Predicted Return Density 

Straits Tms  vs.  BSE

 Performance (%) 

Pair Volatility

Given the investment horizon of 30 days, Straits Tms is expected to generate 0.73 times more return on investment than BSE. However, Straits Tms is 1.38 times less risky than BSE. It trades about 0.26 of its potential returns per unit of risk. BSE is currently generating about -0.05 per unit of risk. If you would invest  304,604  in Straits Tms on January 20, 2019 and sell it today you would earn a total of  19,370  from holding Straits Tms or generate 6.36% return on investment over 30 days.

Pair Corralation between Straits Tms and BSE

Time Period2 Months [change]
StrengthVery Weak
ValuesDaily Returns

Diversification Opportunities for Straits Tms and BSE

Straits Tms diversification synergy

Weak diversification

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

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .