Pair Correlation Between Jakarta Comp and IBEX 35

This module allows you to analyze existing cross correlation between Jakarta Comp and IBEX 35. You can compare the effects of market volatilities on Jakarta Comp and IBEX 35 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 IBEX 35. See also your portfolio center. Please also check ongoing floating volatility patterns of Jakarta Comp and IBEX 35.
 Time Horizon     30 Days    Login   to change
Symbolsvs

Jakarta Comp  vs.  IBEX 35

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Jakarta Comp is expected to under-perform the IBEX 35. In addition to that, Jakarta Comp is 1.09 times more volatile than IBEX 35. It trades about -0.18 of its total potential returns per unit of risk. IBEX 35 is currently generating about -0.01 per unit of volatility. If you would invest  990,240  in IBEX 35 on March 27, 2018 and sell it today you would lose (4,440)  from holding IBEX 35 or give up 0.45% of portfolio value over 30 days.

Pair Corralation between Jakarta Comp and IBEX 35

0.93
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy92.45%
ValuesDaily Returns

Diversification

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding Jakarta Comp and IBEX 35 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on IBEX 35 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 IBEX 35. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of IBEX 35 has no effect on the direction of Jakarta Comp i.e. Jakarta Comp and IBEX 35 go up and down completely randomly.
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Comparative Volatility

 Predicted Return Density 
      Returns 

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GOOG - USA Stock
Alphabet
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IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1047.0

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