Correlation Analysis Between Bovespa and OMXRGI

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

Bovespa  vs.  OMXRGI

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bovespa is expected to generate 1.42 times more return on investment than OMXRGI. However, Bovespa is 1.42 times more volatile than OMXRGI. It trades about 0.18 of its potential returns per unit of risk. OMXRGI is currently generating about -0.04 per unit of risk. If you would invest  7,802,337  in Bovespa on September 20, 2018 and sell it today you would earn a total of  619,663  from holding Bovespa or generate 7.94% return on investment over 30 days.

Pair Corralation between Bovespa and OMXRGI

-0.56
Time Period1 Month [change]
DirectionNegative 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Excellent diversification

Overlapping area represents the amount of risk that can be diversified away by holding Bovespa and OMXRGI in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on OMXRGI and Bovespa 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 Bovespa are associated (or correlated) with OMXRGI. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of OMXRGI has no effect on the direction of Bovespa i.e. Bovespa and OMXRGI 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
$1115.69

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 Crypto Portfolio Optimizer module to optimize portfolio of digital coins and token across multiple currency and exchanges.


 
Search macroaxis.com