Pair Correlation Between OMX COPENHAGEN and ISEQ

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

Pair Volatility

Assuming 30 trading days horizon, OMX COPENHAGEN is expected to generate 1.13 times more return on investment than ISEQ. However, OMX COPENHAGEN is 1.13 times more volatile than ISEQ. It trades about 0.02 of its potential returns per unit of risk. ISEQ is currently generating about -0.18 per unit of risk. If you would invest  133,257  in OMX COPENHAGEN on February 19, 2018 and sell it today you would earn a total of  450.46  from holding OMX COPENHAGEN or generate 0.34% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between OMX COPENHAGEN and ISEQ


Time Period1 Month [change]
ValuesDaily Returns


Poor diversification

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

Comparative Volatility

 Predicted Return Density