Pair Correlation 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 2.74 times less return on investment than Jakarta Comp. But when comparing it to its historical volatility, OMX COPENHAGEN is 1.74 times less risky than Jakarta Comp. It trades about 0.24 of its potential returns per unit of risk. Jakarta Comp is currently generating about 0.37 of returns per unit of risk over similar time horizon. If you would invest  613,396  in Jakarta Comp on December 18, 2017 and sell it today you would earn a total of  29,573  from holding Jakarta Comp or generate 4.82% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between OMX COPENHAGEN and Jakarta Comp


Time Period1 Month [change]
ValuesDaily Returns


Very 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