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
Symbolsvs

NQFI  vs.  Jakarta Comp

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, NQFI is expected to generate 0.91 times more return on investment than Jakarta Comp. However, NQFI is 1.1 times less risky than Jakarta Comp. It trades about 0.12 of its potential returns per unit of risk. Jakarta Comp is currently generating about 0.0 per unit of risk. If you would invest  160,560  in NQFI on August 24, 2018 and sell it today you would earn a total of  4,524  from holding NQFI or generate 2.82% return on investment over 30 days.

Pair Corralation between NQFI and Jakarta Comp

0.75
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Poor diversification

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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Comparative Volatility

 Predicted Return Density 
      Returns 

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1171.09

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