Correlation Analysis Between Straits Tms and XU100

This module allows you to analyze existing cross correlation between Straits Tms and XU100. You can compare the effects of market volatilities on Straits Tms and XU100 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 XU100. See also your portfolio center. Please also check ongoing floating volatility patterns of Straits Tms and XU100.
Horizon     30 Days    Login   to change
Symbolsvs
Compare Efficiency

Comparative Performance

 Predicted Return Density 
      Returns 

Straits Tms  vs.  XU100

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Straits Tms is expected to generate 3.13 times less return on investment than XU100. But when comparing it to its historical volatility, Straits Tms is 2.61 times less risky than XU100. It trades about 0.27 of its potential returns per unit of risk. XU100 is currently generating about 0.32 of returns per unit of risk over similar time horizon. If you would invest  9,152,690  in XU100 on January 21, 2019 and sell it today you would earn a total of  1,044,439  from holding XU100 or generate 11.41% return on investment over 30 days.

Pair Corralation between Straits Tms and XU100

-0.07
Time Period2 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy53.13%
ValuesDaily Returns

Diversification Opportunities for Straits Tms and XU100

Straits Tms diversification synergy

Good diversification

Overlapping area represents the amount of risk that can be diversified away by holding Straits Tms and XU100 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on XU100 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 XU100. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of XU100 has no effect on the direction of Straits Tms i.e. Straits Tms and XU100 go up and down completely randomly.
    Optimize

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 Money Flow Index module to determine momentum by analyzing money flow index and other technical indicators.


 
Search macroaxis.com