Correlation Analysis Between NZSE and Jakarta Comp

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

NZSE  vs.  Jakarta Comp

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, NZSE is expected to generate 2.27 times more return on investment than Jakarta Comp. However, NZSE is 2.27 times more volatile than Jakarta Comp. It trades about 0.07 of its potential returns per unit of risk. Jakarta Comp is currently generating about -0.05 per unit of risk. If you would invest  887,256  in NZSE on July 21, 2018 and sell it today you would earn a total of  23,659  from holding NZSE or generate 2.67% return on investment over 30 days.

Pair Corralation between NZSE and Jakarta Comp

0.0
Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy67.86%
ValuesDaily Returns

Diversification

Pay attention

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

Comparative Volatility

My Equities

My Current Equities and Potential Positions
View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1205.74

Thematic Opportunities

Explore Investment Opportunities
Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.