Pair Correlation Between Nasdaq and OMXRGI

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

Pair Volatility

Assuming 30 trading days horizon, Nasdaq is expected to generate 1.72 times less return on investment than OMXRGI. But when comparing it to its historical volatility, Nasdaq is 1.24 times less risky than OMXRGI. It trades about 0.07 of its potential returns per unit of risk. OMXRGI is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest  102,250  in OMXRGI on February 19, 2018 and sell it today you would earn a total of  2,585  from holding OMXRGI or generate 2.53% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Nasdaq and OMXRGI


Time Period1 Month [change]
StrengthVery Strong
ValuesDaily Returns


No risk reduction

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

Comparative Volatility

 Predicted Return Density