Correlation Analysis Between Hang Seng and OMXRGI

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

Hang Seng  vs.  OMXRGI

 Performance (%) 

Pair Volatility

Given the investment horizon of 30 days, Hang Seng is expected to generate 1.19 times more return on investment than OMXRGI. However, Hang Seng is 1.19 times more volatile than OMXRGI. It trades about 0.06 of its potential returns per unit of risk. OMXRGI is currently generating about 0.04 per unit of risk. If you would invest  2,547,000  in Hang Seng on November 12, 2018 and sell it today you would earn a total of  71,538  from holding Hang Seng or generate 2.81% return on investment over 30 days.

Pair Corralation between Hang Seng and OMXRGI

Time Period2 Months [change]
ValuesDaily Returns


Hang Seng diversification synergy

Average diversification

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

Comparative Volatility

 Predicted Return Density 

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