Correlation Analysis Between IBEX 35 and OMX COPENHAGEN

This module allows you to analyze existing cross correlation between IBEX 35 and OMX COPENHAGEN. You can compare the effects of market volatilities on IBEX 35 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 IBEX 35 with a short position of OMX COPENHAGEN. See also your portfolio center. Please also check ongoing floating volatility patterns of IBEX 35 and OMX COPENHAGEN.
Horizon     30 Days    Login   to change
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Comparative Performance

 Predicted Return Density 
      Returns 

IBEX 35  vs.  OMX COPENHAGEN

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, IBEX 35 is expected to generate 1.69 times less return on investment than OMX COPENHAGEN. In addition to that, IBEX 35 is 1.01 times more volatile than OMX COPENHAGEN. It trades about 0.01 of its total potential returns per unit of risk. OMX COPENHAGEN is currently generating about 0.03 per unit of volatility. If you would invest  143,740  in OMX COPENHAGEN on September 15, 2019 and sell it today you would earn a total of  2,201  from holding OMX COPENHAGEN or generate 1.53% return on investment over 30 days.

Pair Corralation between IBEX 35 and OMX COPENHAGEN

0.25
Time Period3 Months [change]
DirectionPositive 
StrengthVery Weak
Accuracy98.46%
ValuesDaily Returns

Diversification Opportunities for IBEX 35 and OMX COPENHAGEN

IBEX 35 diversification synergy

Modest diversification

Overlapping area represents the amount of risk that can be diversified away by holding IBEX 35 and OMX COPENHAGEN in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on OMX COPENHAGEN and IBEX 35 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 IBEX 35 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 IBEX 35 i.e. IBEX 35 and OMX COPENHAGEN go up and down completely randomly.
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See also your portfolio center. Please also try Fundamental Analysis module to view fundamental data based on most recent published financial statements.


 
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