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This module allows you to analyze existing cross correlation between Jakarta Comp and Taiwan Wtd. You can compare the effects of market volatilities on Jakarta Comp and Taiwan Wtd 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 Taiwan Wtd. See also your portfolio center. Please also check ongoing floating volatility patterns of Jakarta Comp and Taiwan Wtd.
|Horizon||30 Days Login to change|
Predicted Return Density
Jakarta Comp vs. Taiwan Wtd
Assuming 30 trading days horizon, Jakarta Comp is expected to generate 2.14 times less return on investment than Taiwan Wtd. But when comparing it to its historical volatility, Jakarta Comp is 2.31 times less risky than Taiwan Wtd. It trades about 0.32 of its potential returns per unit of risk. Taiwan Wtd is currently generating about 0.29 of returns per unit of risk over similar time horizon. If you would invest 952,709 in Taiwan Wtd on January 21, 2019 and sell it today you would earn a total of 74,537 from holding Taiwan Wtd or generate 7.82% return on investment over 30 days.
Pair Corralation between Jakarta Comp and Taiwan Wtd
|Time Period||2 Months [change]|
Diversification Opportunities for Jakarta Comp and Taiwan Wtd
Overlapping area represents the amount of risk that can be diversified away by holding Jakarta Comp and Taiwan Wtd in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Taiwan Wtd 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 Taiwan Wtd. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Taiwan Wtd has no effect on the direction of Jakarta Comp i.e. Jakarta Comp and Taiwan Wtd go up and down completely randomly.