Correlation Analysis Between Jakarta Comp and DOW

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

Jakarta Comp  vs.  DOW

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Jakarta Comp is expected to under-perform the DOW. In addition to that, Jakarta Comp is 3.04 times more volatile than DOW. It trades about -0.01 of its total potential returns per unit of risk. DOW is currently generating about 0.23 per unit of volatility. If you would invest  2,575,869  in DOW on August 20, 2018 and sell it today you would earn a total of  48,827  from holding DOW or generate 1.9% return on investment over 30 days.

Pair Corralation between Jakarta Comp and DOW

-0.26
Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy91.3%
ValuesDaily Returns

Diversification

Very good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

My Equities

My Current Equities and Potential Positions

View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1169.73

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 Theme Ratings module to determine theme ratings based on digital equity recommendations. macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.


 
Search macroaxis.com