Correlation Analysis Between Straits Tms and Greece TR

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

 Predicted Return Density 
      Returns 

Straits Tms  vs.  Greece TR

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Straits Tms is expected to generate 0.61 times more return on investment than Greece TR. However, Straits Tms is 1.64 times less risky than Greece TR. It trades about 0.23 of its potential returns per unit of risk. Greece TR is currently generating about 0.03 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 Greece TR

0.22
Time Period2 Months [change]
DirectionPositive 
StrengthVery Weak
Accuracy89.74%
ValuesDaily Returns

Diversification Opportunities for Straits Tms and Greece TR

Straits Tms diversification synergy

Modest diversification

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