This module allows you to analyze existing cross correlation between ATX and OMXVGI. You can compare the effects of market volatilities on ATX and OMXVGI 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 OMXVGI. See also your portfolio center
. Please also check ongoing floating volatility patterns of ATX
ATX vs. OMXVGI
Given the investment horizon of 30 days, ATX is expected to generate 3.35 times more return on investment than OMXVGI. However, ATX is 3.35 times more volatile than OMXVGI. It trades about 0.1 of its potential returns per unit of risk. OMXVGI is currently generating about 0.07 per unit of risk. If you would invest 324,620 in ATX on June 21, 2018 and sell it today you would earn a total of 6,234 from holding ATX or generate 1.92% return on investment over 30 days.
Pair Corralation between ATX and OMXVGI
|Time Period||1 Month [change]|
Overlapping area represents the amount of risk that can be diversified away by holding ATX and OMXVGI in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on OMXVGI 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 OMXVGI. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of OMXVGI has no effect on the direction of ATX i.e. ATX and OMXVGI go up and down completely randomly.
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