Correlation Analysis Between ISEQ and OMX COPENHAGEN

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


 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, ISEQ is expected to under-perform the OMX COPENHAGEN. In addition to that, ISEQ is 1.21 times more volatile than OMX COPENHAGEN. It trades about -0.17 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  127,249  in OMX COPENHAGEN on November 11, 2018 and sell it today you would earn a total of  1,663  from holding OMX COPENHAGEN or generate 1.31% return on investment over 30 days.

Pair Corralation between ISEQ and OMX COPENHAGEN

Time Period2 Months [change]
StrengthVery Weak
ValuesDaily Returns


ISEQ diversification synergy

Modest diversification

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

Comparative Volatility

 Predicted Return Density 

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