Correlation Analysis Between NZSE and OMXRGI

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

NZSE  vs.  OMXRGI

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, NZSE is expected to under-perform the OMXRGI. But the index apears to be less risky and, when comparing its historical volatility, NZSE is 1.36 times less risky than OMXRGI. The index trades about -0.26 of its potential returns per unit of risk. The OMXRGI is currently generating about -0.1 of returns per unit of risk over similar time horizon. If you would invest  98,936  in OMXRGI on September 21, 2018 and sell it today you would lose (3,186)  from holding OMXRGI or give up 3.22% of portfolio value over 30 days.

Pair Corralation between NZSE and OMXRGI

0.9
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy95.45%
ValuesDaily Returns

Diversification

Almost no diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

My Equities

My Current Equities and Potential Positions

View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1096.46

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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. drill down to check world indexes.


 
Search macroaxis.com