Correlation Analysis Between ATX and OMXVGI

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 and OMXVGI.
Horizon     30 Days    Login   to change
Symbolsvs

ATX  vs.  OMXVGI

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, ATX is expected to under-perform the OMXVGI. In addition to that, ATX is 1.32 times more volatile than OMXVGI. It trades about -0.26 of its total potential returns per unit of risk. OMXVGI is currently generating about -0.17 per unit of volatility. If you would invest  69,052  in OMXVGI on September 21, 2018 and sell it today you would lose (1,703)  from holding OMXVGI or give up 2.47% of portfolio value over 30 days.

Pair Corralation between ATX and OMXVGI

0.85
Time Period1 Month [change]
DirectionPositive 
StrengthStrong
Accuracy95.65%
ValuesDaily Returns

Diversification

Very poor diversification

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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Comparative Volatility

 Predicted Return Density 
      Returns 

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GOOG - USA Stock
Alphabet
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IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1096.46

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