Correlation Analysis Between OMX COPENHAGEN and IBEX 35

This module allows you to analyze existing cross correlation between OMX COPENHAGEN and IBEX 35. You can compare the effects of market volatilities on OMX COPENHAGEN and IBEX 35 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 IBEX 35. See also your portfolio center. Please also check ongoing floating volatility patterns of OMX COPENHAGEN and IBEX 35.
Horizon     30 Days    Login   to change


 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, OMX COPENHAGEN is expected to generate 0.98 times more return on investment than IBEX 35. However, OMX COPENHAGEN is 1.02 times less risky than IBEX 35. It trades about 0.04 of its potential returns per unit of risk. IBEX 35 is currently generating about -0.07 per unit of risk. If you would invest  125,610  in OMX COPENHAGEN on November 10, 2018 and sell it today you would earn a total of  1,910  from holding OMX COPENHAGEN or generate 1.52% return on investment over 30 days.

Pair Corralation between OMX COPENHAGEN and IBEX 35

Time Period2 Months [change]
ValuesDaily Returns


OMX COPENHAGEN diversification synergy

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding OMX COPENHAGEN and IBEX 35 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on IBEX 35 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 IBEX 35. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of IBEX 35 has no effect on the direction of OMX COPENHAGEN i.e. OMX COPENHAGEN and IBEX 35 go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 

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