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 |
Symbols | vs |
Jakarta Comp vs. Madrid Gnrl
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 Period | 2 Months [change] |
Direction | Negative |
Strength | Insignificant |
Accuracy | 77.78% |
Values | Daily 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.
Comparative Volatility
Jakarta Comp
Pair trading matchups for Jakarta Comp
Madrid Gnrl
Pair trading matchups for Madrid Gnrl
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Thematic Opportunities
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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.