Correlation Analysis Between Jakarta Comp and NQFI

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

Jakarta Comp  vs.  NQFI

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Jakarta Comp is expected to generate 0.57 times more return on investment than NQFI. However, Jakarta Comp is 1.76 times less risky than NQFI. It trades about 0.24 of its potential returns per unit of risk. NQFI is currently generating about -0.07 per unit of risk. If you would invest  574,556  in Jakarta Comp on November 13, 2018 and sell it today you would earn a total of  43,216  from holding Jakarta Comp or generate 7.52% return on investment over 30 days.

Pair Corralation between Jakarta Comp and NQFI

-0.75
Time Period2 Months [change]
DirectionNegative 
StrengthWeak
Accuracy93.02%
ValuesDaily Returns

Diversification

Jakarta Comp diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Jakarta Comp and NQFI in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NQFI 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 NQFI. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NQFI has no effect on the direction of Jakarta Comp i.e. Jakarta Comp and NQFI 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
$1058.05

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 Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.


 
Search macroaxis.com