Pair Correlation Between Greece TR and OMXRGI

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

Pair Volatility

Assuming 30 trading days horizon, Greece TR is expected to under-perform the OMXRGI. In addition to that, Greece TR is 1.03 times more volatile than OMXRGI. It trades about -0.31 of its total potential returns per unit of risk. OMXRGI is currently generating about -0.03 per unit of volatility. If you would invest  103,192  in OMXRGI on February 16, 2018 and sell it today you would lose (783.78)  from holding OMXRGI or give up 0.76% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Greece TR 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 Greece TR and OMXRGI in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on OMXRGI and Greece TR 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 Greece TR 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 Greece TR i.e. Greece TR and OMXRGI go up and down completely randomly.

Comparative Volatility

 Predicted Return Density