Correlation Analysis 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
Symbolsvs

OMX COPENHAGEN  vs.  Seoul Comp

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, OMX COPENHAGEN is expected to generate 1.06 times more return on investment than Seoul Comp. However, OMX COPENHAGEN is 1.06 times more volatile than Seoul Comp. It trades about 0.17 of its potential returns per unit of risk. Seoul Comp is currently generating about -0.16 per unit of risk. If you would invest  137,721  in OMX COPENHAGEN on June 21, 2018 and sell it today you would earn a total of  4,511  from holding OMX COPENHAGEN or generate 3.28% return on investment over 30 days.

Pair Corralation between OMX COPENHAGEN and Seoul Comp

1.0
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy96.67%
ValuesDaily 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.
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Comparative Volatility

 Predicted Return Density 
      Returns 

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