Correlation Analysis Between DOW and Jakarta Comp

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

DOW  vs.  Jakarta Comp

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, DOW is expected to under-perform the Jakarta Comp. In addition to that, DOW is 1.65 times more volatile than Jakarta Comp. It trades about -0.05 of its total potential returns per unit of risk. Jakarta Comp is currently generating about 0.24 per unit of volatility. If you would invest  574,556  in Jakarta Comp on November 13, 2018 and sell it today you would earn a total of  43,216  from holding Jakarta Comp or generate 7.52% return on investment over 30 days.

Pair Corralation between DOW and Jakarta Comp

-0.25
Time Period2 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy97.56%
ValuesDaily Returns

Diversification

DOW diversification synergy

Very good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

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
$1058.05

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 Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.


 
Search macroaxis.com