Correlation Analysis Between DAX and OMXRGI

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

DAX  vs.  OMXRGI

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, DAX is expected to under-perform the OMXRGI. But the index apears to be less risky and, when comparing its historical volatility, DAX is 1.13 times less risky than OMXRGI. The index trades about -0.12 of its potential returns per unit of risk. The OMXRGI is currently generating about -0.02 of returns per unit of risk over similar time horizon. If you would invest  103,729  in OMXRGI on May 21, 2018 and sell it today you would lose (785.53)  from holding OMXRGI or give up 0.76% of portfolio value over 30 days.

Pair Corralation between DAX and OMXRGI

0.0
Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Pay attention

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

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