Correlation Analysis Between OMX COPENHAGEN and Jakarta Comp

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

OMX COPENHAGEN  vs.  Jakarta Comp

 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, OMX COPENHAGEN is expected to generate 0.6 times more return on investment than Jakarta Comp. However, OMX COPENHAGEN is 1.66 times less risky than Jakarta Comp. It trades about 0.14 of its potential returns per unit of risk. Jakarta Comp is currently generating about -0.02 per unit of risk. If you would invest  137,586  in OMX COPENHAGEN on June 20, 2018 and sell it today you would earn a total of  3,651  from holding OMX COPENHAGEN or generate 2.65% return on investment over 30 days.

Pair Corralation between OMX COPENHAGEN and Jakarta Comp

Time Period1 Month [change]
ValuesDaily Returns


Poor diversification

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

Comparative Volatility

 Predicted Return Density 

My Equities

My Current Equities and Potential Positions
View AllNext
GOOG - USA Stock
Business Address1600 Amphitheatre Parkway

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 Reporting module to create custom reports across your portfolios and generate quick suggestion pitch.