Correlation Analysis Between EURONEXT BEL-20 and OMXVGI

This module allows you to analyze existing cross correlation between EURONEXT BEL-20 and OMXVGI. You can compare the effects of market volatilities on EURONEXT BEL-20 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 EURONEXT BEL-20 with a short position of OMXVGI. See also your portfolio center. Please also check ongoing floating volatility patterns of EURONEXT BEL-20 and OMXVGI.
Horizon     30 Days    Login   to change
Symbolsvs

EURONEXT BEL-20  vs.  OMXVGI

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, EURONEXT BEL-20 is expected to under-perform the OMXVGI. In addition to that, EURONEXT BEL-20 is 1.53 times more volatile than OMXVGI. It trades about -0.31 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 EURONEXT BEL-20 and OMXVGI

0.86
Time Period1 Month [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification

Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding EURONEXT BEL-20 and OMXVGI in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on OMXVGI and EURONEXT BEL-20 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 EURONEXT BEL-20 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 EURONEXT BEL-20 i.e. EURONEXT BEL-20 and OMXVGI go up and down completely randomly.
    Optimize

Comparative Volatility

 Predicted Return Density 
      Returns 

My Equities

My Current Equities and Potential Positions

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

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Pair Correlation module to compare performance and examine historical correlation between any two equity instruments.


 
Search macroaxis.com