Correlation Analysis Between NQFI and Jakarta Comp

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

Comparative Performance

 Predicted Return Density 

NQFI  vs.  Jakarta Comp

 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, NQFI is expected to under-perform the Jakarta Comp. In addition to that, NQFI is 1.72 times more volatile than Jakarta Comp. It trades about -0.08 of its total potential returns per unit of risk. Jakarta Comp is currently generating about 0.23 per unit of volatility. If you would invest  574,556  in Jakarta Comp on November 14, 2018 and sell it today you would earn a total of  42,428  from holding Jakarta Comp or generate 7.38% return on investment over 30 days.

Pair Corralation between NQFI and Jakarta Comp

Time Period2 Months [change]
ValuesDaily Returns

Diversification Opportunities for NQFI and Jakarta Comp

NQFI diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding NQFI and Jakarta Comp in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Jakarta Comp and NQFI 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 NQFI 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 NQFI i.e. NQFI and Jakarta Comp go up and down completely randomly.

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See also your portfolio center. Please also try Bollinger Bands module to use bollinger bands indicator to analyze target price for a given investing horizon.