Pair Correlation Between NQEGT and Jakarta Comp

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

NQEGT  vs.  Jakarta Comp

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, NQEGT is expected to generate 1.09 times more return on investment than Jakarta Comp. However, NQEGT is 1.09 times more volatile than Jakarta Comp. It trades about 0.46 of its potential returns per unit of risk. Jakarta Comp is currently generating about -0.18 per unit of risk. If you would invest  116,959  in NQEGT on March 27, 2018 and sell it today you would earn a total of  22,781  from holding NQEGT or generate 19.48% return on investment over 30 days.

Pair Corralation between NQEGT and Jakarta Comp

0.92
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy84.91%
ValuesDaily Returns

Diversification

Almost no diversification

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

 Predicted Return Density 
      Returns 

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Alphabet
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ExchangeNASDAQ
$1067.45

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