Correlation Analysis Between OMX COPENHAGEN and DAX

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


 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, OMX COPENHAGEN is expected to under-perform the DAX. In addition to that, OMX COPENHAGEN is 1.01 times more volatile than DAX. It trades about -0.07 of its total potential returns per unit of risk. DAX is currently generating about -0.07 per unit of volatility. If you would invest  1,233,130  in DAX on August 20, 2018 and sell it today you would lose (17,363)  from holding DAX or give up 1.41% of portfolio value over 30 days.

Pair Corralation between OMX COPENHAGEN and DAX

Time Period1 Month [change]
ValuesDaily Returns


Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding OMX COPENHAGEN and DAX in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on DAX and OMX COPENHAGEN 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 OMX COPENHAGEN are associated (or correlated) with DAX. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DAX has no effect on the direction of OMX COPENHAGEN i.e. OMX COPENHAGEN and DAX go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 

My Equities

My Current Equities and Potential Positions

View AllNext
GOOG - USA Stock
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway

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 Piotroski F Score module to get piotroski f score based on binary analysis strategy of nine different fundamentals.