Correlation Analysis Between NQEGT and OMXVGI

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


 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, NQEGT is expected to under-perform the OMXVGI. In addition to that, NQEGT is 3.35 times more volatile than OMXVGI. It trades about -0.02 of its total potential returns per unit of risk. OMXVGI is currently generating about 0.03 per unit of volatility. If you would invest  71,026  in OMXVGI on May 22, 2018 and sell it today you would earn a total of  138.78  from holding OMXVGI or generate 0.2% return on investment over 30 days.

Pair Corralation between NQEGT and OMXVGI

Time Period1 Month [change]
ValuesDaily Returns


Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding NQEGT and OMXVGI in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on OMXVGI and NQEGT 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 NQEGT are associated (or correlated) with OMXVGI. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of OMXVGI has no effect on the direction of NQEGT i.e. NQEGT and OMXVGI 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 Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.