Correlation Analysis Between Russia TR and OMXVGI

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

Comparative Performance

 Predicted Return Density 

Russia TR  vs.  OMXVGI

 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Russia TR is expected to generate 2.8 times more return on investment than OMXVGI. However, Russia TR is 2.8 times more volatile than OMXVGI. It trades about -0.01 of its potential returns per unit of risk. OMXVGI is currently generating about -0.31 per unit of risk. If you would invest  121,510  in Russia TR on November 16, 2018 and sell it today you would lose (1,283)  from holding Russia TR or give up 1.06% of portfolio value over 30 days.

Pair Corralation between Russia TR and OMXVGI

Time Period2 Months [change]
ValuesDaily Returns

Diversification Opportunities for Russia TR and OMXVGI

Russia TR diversification synergy

Good diversification

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

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 Theme Ratings module to determine theme ratings based on digital equity recommendations. macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.