Correlation Analysis Between OMX COPENHAGEN and Hang Seng

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

OMX COPENHAGEN  vs.  Hang Seng

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, OMX COPENHAGEN is expected to under-perform the Hang Seng. In addition to that, OMX COPENHAGEN is 1.23 times more volatile than Hang Seng. It trades about -0.13 of its total potential returns per unit of risk. Hang Seng is currently generating about -0.13 per unit of volatility. If you would invest  2,685,658  in Hang Seng on September 17, 2018 and sell it today you would lose (139,432)  from holding Hang Seng or give up 5.19% of portfolio value over 30 days.

Pair Corralation between OMX COPENHAGEN and Hang Seng

0.9
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

Almost no diversification

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

 Predicted Return Density 
      Returns 

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