Pair Correlation Between NQFI and OMX COPENHAGEN

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

Pair Volatility

Assuming 30 trading days horizon, NQFI is expected to generate 1.64 times more return on investment than OMX COPENHAGEN. However, NQFI is 1.64 times more volatile than OMX COPENHAGEN. It trades about 0.1 of its potential returns per unit of risk. OMX COPENHAGEN is currently generating about -0.14 per unit of risk. If you would invest  163,183  in NQFI on January 20, 2018 and sell it today you would earn a total of  4,776  from holding NQFI or generate 2.93% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between NQFI and OMX COPENHAGEN


Time Period1 Month [change]
ValuesDaily Returns


Pay attention

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

Comparative Volatility

 Predicted Return Density