Correlation Analysis Between SP 500 and OMX COPENHAGEN

This module allows you to analyze existing cross correlation between S&P 500 and OMX COPENHAGEN. You can compare the effects of market volatilities on SP 500 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 SP 500 with a short position of OMX COPENHAGEN. See also your portfolio center. Please also check ongoing floating volatility patterns of SP 500 and OMX COPENHAGEN.
Horizon     30 Days    Login   to change


 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, S&P 500 is expected to generate 0.5 times more return on investment than OMX COPENHAGEN. However, S&P 500 is 1.99 times less risky than OMX COPENHAGEN. It trades about -0.22 of its potential returns per unit of risk. OMX COPENHAGEN is currently generating about -0.18 per unit of risk. If you would invest  290,498  in S&P 500 on September 15, 2018 and sell it today you would lose (13,785)  from holding S&P 500 or give up 4.75% of portfolio value over 30 days.

Pair Corralation between SP 500 and OMX COPENHAGEN

Time Period1 Month [change]
ValuesDaily Returns


Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding S&P 500 and OMX COPENHAGEN in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on OMX COPENHAGEN and SP 500 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 S&P 500 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 SP 500 i.e. SP 500 and OMX COPENHAGEN go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 

My Equities

My Current Equities and Potential Positions

View AllNext
GOOG - USA Stock
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway

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 Money Managers module to screen money managers from public funds and etfs managed around the world.