Pair Correlation Between OMX COPENHAGEN and Seoul Comp |
This module allows you to analyze existing cross correlation between OMX COPENHAGEN and Seoul Comp. You can compare the effects of market volatilities on OMX COPENHAGEN and Seoul Comp 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 Seoul Comp. See also your portfolio center. Please also check ongoing floating volatility patterns of OMX COPENHAGEN and Seoul Comp.
| Time Horizon | 30 Days Login to change |
| Symbols | vs |
OMX COPENHAGEN vs. Seoul Comp
Pair Volatility
Assuming 30 trading days horizon, OMX COPENHAGEN is expected to under-perform the Seoul Comp. But the index apears to be less risky and, when comparing its historical volatility, OMX COPENHAGEN is 1.69 times less risky than Seoul Comp. The index trades about -0.02 of its potential returns per unit of risk. The Seoul Comp is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 242,965 in Seoul Comp on March 23, 2018 and sell it today you would earn a total of 3,691 from holding Seoul Comp or generate 1.52% return on investment over 30 days.
Pair Corralation between OMX COPENHAGEN and Seoul Comp
1.0
| Time Period | 2 Months [change] |
| Direction | Positive |
| Strength | Very Strong |
| Accuracy | 86.21% |
| Values | Daily Returns |
Diversification
No risk reduction
Overlapping area represents the amount of risk that can be diversified away by holding OMX COPENHAGEN and Seoul Comp in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Seoul Comp 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 Seoul Comp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Seoul Comp has no effect on the direction of OMX COPENHAGEN i.e. OMX COPENHAGEN and Seoul Comp go up and down completely randomly.
Comparative Volatility
OMX COPENHAGEN
Pair trading matchups for OMX COPENHAGEN
Seoul Comp
Pair trading matchups for Seoul Comp
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