Pair Correlation Between ATX and OMX COPENHAGEN

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

Pair Volatility

Given the investment horizon of 30 days, ATX is expected to generate 1.14 times more return on investment than OMX COPENHAGEN. However, ATX is 1.14 times more volatile than OMX COPENHAGEN. It trades about 0.1 of its potential returns per unit of risk. OMX COPENHAGEN is currently generating about 0.02 per unit of risk. If you would invest  340,296  in ATX on February 19, 2018 and sell it today you would earn a total of  5,485  from holding ATX or generate 1.61% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between ATX and OMX COPENHAGEN


Time Period1 Month [change]
StrengthVery Strong
ValuesDaily Returns


No risk reduction

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

Comparative Volatility

 Predicted Return Density