Pair Correlation Between Jakarta Comp and Madrid Gnrl

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

Jakarta Comp  vs.  Madrid Gnrl

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Jakarta Comp is expected to under-perform the Madrid Gnrl. But the index apears to be less risky and, when comparing its historical volatility, Jakarta Comp is 1.01 times less risky than Madrid Gnrl. The index trades about -0.13 of its potential returns per unit of risk. The Madrid Gnrl is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest  99,839  in Madrid Gnrl on March 23, 2018 and sell it today you would earn a total of  605.00  from holding Madrid Gnrl or generate 0.61% return on investment over 30 days.

Pair Corralation between Jakarta Comp and Madrid Gnrl

-0.33
Time Period2 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy77.78%
ValuesDaily Returns

Diversification

Very good diversification

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

 Predicted Return Density 
      Returns 

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See also your portfolio center. Please also try Coins and Tokens Correlation module to utilize digital token correlation table to build portfolio of cryptocurrencies across multiple exchanges.