Pair Correlation Between OMXRGI and Jakarta Comp

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

Pair Volatility

Assuming 30 trading days horizon, OMXRGI is expected to under-perform the Jakarta Comp. In addition to that, OMXRGI is 1.21 times more volatile than Jakarta Comp. It trades about -0.03 of its total potential returns per unit of risk. Jakarta Comp is currently generating about 0.09 per unit of volatility. If you would invest  650,053  in Jakarta Comp on January 20, 2018 and sell it today you would earn a total of  9,105  from holding Jakarta Comp or generate 1.4% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between OMXRGI and Jakarta Comp


Time Period1 Month [change]
StrengthVery Weak
ValuesDaily Returns


Weak diversification

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

Comparative Volatility

 Predicted Return Density