Pair Correlation Between Hang Seng and Jakarta Comp

This module allows you to analyze existing cross correlation between Hang Seng and Jakarta Comp. You can compare the effects of market volatilities on Hang Seng and Jakarta Comp 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 Hang Seng with a short position of Jakarta Comp. See also your portfolio center. Please also check ongoing floating volatility patterns of Hang Seng and Jakarta Comp.
 Time Horizon     30 Days    Login   to change
 Hang Seng  vs   Jakarta Comp
 Performance (%) 

Pair Volatility

Given the investment horizon of 30 days, Hang Seng is expected to under-perform the Jakarta Comp. In addition to that, Hang Seng is 2.34 times more volatile than Jakarta Comp. It trades about -0.14 of its total potential returns per unit of risk. Jakarta Comp is currently generating about 0.01 per unit of volatility. If you would invest  661,533  in Jakarta Comp on January 25, 2018 and sell it today you would earn a total of  447.42  from holding Jakarta Comp or generate 0.07% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Hang Seng and Jakarta Comp


Time Period1 Month [change]
ValuesDaily Returns


Good diversification

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

Comparative Volatility

 Predicted Return Density