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
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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 under-perform the Greece TR. But the index apears to be less risky and, when comparing its historical volatility, Straits Tms is 2.66 times less risky than Greece TR. The index trades about -0.14 of its potential returns per unit of risk. The Greece TR is currently generating about 0.13 of returns per unit of risk over similar time horizon. If you would invest  50,380  in Greece TR on May 18, 2019 and sell it today you would earn a total of  4,804  from holding Greece TR or generate 9.54% return on investment over 30 days.

Pair Corralation between Straits Tms and Greece TR

-0.29
Time Period2 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy95.0%
ValuesDaily Returns

Diversification Opportunities for Straits Tms and Greece TR

Straits Tms diversification synergy

Very good 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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