Correlation Analysis Between CAC 40 and OMXVGI

This module allows you to analyze existing cross correlation between CAC 40 and OMXVGI. You can compare the effects of market volatilities on CAC 40 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 CAC 40 with a short position of OMXVGI. See also your portfolio center. Please also check ongoing floating volatility patterns of CAC 40 and OMXVGI.
 Time Horizon     30 Days    Login   to change

CAC 40  vs.  OMXVGI

 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, CAC 40 is expected to generate 1.59 times less return on investment than OMXVGI. In addition to that, CAC 40 is 3.76 times more volatile than OMXVGI. It trades about 0.01 of its total potential returns per unit of risk. OMXVGI is currently generating about 0.06 per unit of volatility. If you would invest  71,211  in OMXVGI on June 20, 2018 and sell it today you would earn a total of  261.00  from holding OMXVGI or generate 0.37% return on investment over 30 days.

Pair Corralation between CAC 40 and OMXVGI

Time Period1 Month [change]
ValuesDaily Returns


Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding CAC 40 and OMXVGI in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on OMXVGI and CAC 40 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 CAC 40 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 CAC 40 i.e. CAC 40 and OMXVGI go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 

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See also your portfolio center. Please also try Bollinger Bands module to use bollinger bands indicator to analyze target price for a given investing horizon.