Pair Correlation Between NQPH and OMX COPENHAGEN

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

Pair Volatility

Assuming 30 trading days horizon, NQPH is expected to under-perform the OMX COPENHAGEN. But the index apears to be less risky and, when comparing its historical volatility, NQPH is 1.01 times less risky than OMX COPENHAGEN. The index trades about -0.24 of its potential returns per unit of risk. The OMX COPENHAGEN is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest  132,157  in OMX COPENHAGEN on February 15, 2018 and sell it today you would earn a total of  2,140  from holding OMX COPENHAGEN or generate 1.62% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between NQPH and OMX COPENHAGEN


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 NQPH and OMX COPENHAGEN in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on OMX COPENHAGEN and NQPH 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 NQPH 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 NQPH i.e. NQPH and OMX COPENHAGEN go up and down completely randomly.

Comparative Volatility

 Predicted Return Density