Correlation Analysis Between Jakarta Comp and Stockholm

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

 Predicted Return Density 
      Returns 

Jakarta Comp  vs.  Stockholm

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Jakarta Comp is expected to generate 2.27 times less return on investment than Stockholm. But when comparing it to its historical volatility, Jakarta Comp is 1.93 times less risky than Stockholm. It trades about 0.32 of its potential returns per unit of risk. Stockholm is currently generating about 0.37 of returns per unit of risk over similar time horizon. If you would invest  52,047  in Stockholm on January 21, 2019 and sell it today you would earn a total of  7,101  from holding Stockholm or generate 13.64% return on investment over 30 days.

Pair Corralation between Jakarta Comp and Stockholm

0.84
Time Period2 Months [change]
DirectionPositive 
StrengthStrong
Accuracy97.14%
ValuesDaily Returns

Diversification Opportunities for Jakarta Comp and Stockholm

Jakarta Comp diversification synergy

Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Jakarta Comp and Stockholm in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Stockholm and Jakarta Comp 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 Jakarta Comp are associated (or correlated) with Stockholm. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Stockholm has no effect on the direction of Jakarta Comp i.e. Jakarta Comp and Stockholm go up and down completely randomly.
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