Correlation Analysis Between DAX and OMX COPENHAGEN

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


 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, DAX is expected to under-perform the OMX COPENHAGEN. In addition to that, DAX is 1.26 times more volatile than OMX COPENHAGEN. It trades about -0.11 of its total potential returns per unit of risk. OMX COPENHAGEN is currently generating about -0.04 per unit of volatility. If you would invest  138,684  in OMX COPENHAGEN on May 21, 2018 and sell it today you would lose (1,098)  from holding OMX COPENHAGEN or give up 0.79% of portfolio value over 30 days.

Pair Corralation between DAX and OMX COPENHAGEN

Time Period1 Month [change]
ValuesDaily Returns


Pay attention

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

Comparative Volatility

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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.