Correlation Analysis Between Straits Tms and IPC

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

Comparative Performance

 Predicted Return Density 

Straits Tms  vs.  IPC

 Performance (%) 

Pair Volatility

Given the investment horizon of 30 days, Straits Tms is expected to generate 1.12 times more return on investment than IPC. However, Straits Tms is 1.12 times more volatile than IPC. It trades about 0.23 of its potential returns per unit of risk. IPC is currently generating about 0.16 per unit of risk. If you would invest  305,865  in Straits Tms on January 18, 2019 and sell it today you would earn a total of  18,109  from holding Straits Tms or generate 5.92% return on investment over 30 days.

Pair Corralation between Straits Tms and IPC

Time Period2 Months [change]
ValuesDaily Returns

Diversification Opportunities for Straits Tms and IPC

Straits Tms diversification synergy

Poor diversification

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

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