Correlation Analysis Between OMX COPENHAGEN and Bursa Malaysia

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

OMX COPENHAGEN  vs.  Bursa Malaysia

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, OMX COPENHAGEN is expected to generate 0.84 times more return on investment than Bursa Malaysia. However, OMX COPENHAGEN is 1.19 times less risky than Bursa Malaysia. It trades about 0.18 of its potential returns per unit of risk. Bursa Malaysia is currently generating about 0.14 per unit of risk. If you would invest  136,372  in OMX COPENHAGEN on June 19, 2018 and sell it today you would earn a total of  4,676  from holding OMX COPENHAGEN or generate 3.43% return on investment over 30 days.

Pair Corralation between OMX COPENHAGEN and Bursa Malaysia

-0.21
Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy70.0%
ValuesDaily Returns

Diversification

Very good diversification

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

 Predicted Return Density 
      Returns 

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