Correlation Analysis Between OMX COPENHAGEN and NIKKEI 225

This module allows you to analyze existing cross correlation between OMX COPENHAGEN and NIKKEI 225. You can compare the effects of market volatilities on OMX COPENHAGEN and NIKKEI 225 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 NIKKEI 225. See also your portfolio center. Please also check ongoing floating volatility patterns of OMX COPENHAGEN and NIKKEI 225.
Horizon     30 Days    Login   to change
Symbolsvs

OMX COPENHAGEN  vs.  NIKKEI 225

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, OMX COPENHAGEN is expected to under-perform the NIKKEI 225. In addition to that, OMX COPENHAGEN is 1.24 times more volatile than NIKKEI 225. It trades about -0.16 of its total potential returns per unit of risk. NIKKEI 225 is currently generating about 0.3 per unit of volatility. If you would invest  2,279,964  in NIKKEI 225 on August 26, 2018 and sell it today you would earn a total of  110,764  from holding NIKKEI 225 or generate 4.86% return on investment over 30 days.

Pair Corralation between OMX COPENHAGEN and NIKKEI 225

0.0
Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy95.45%
ValuesDaily Returns

Diversification

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding OMX COPENHAGEN and NIKKEI 225 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NIKKEI 225 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 NIKKEI 225. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NIKKEI 225 has no effect on the direction of OMX COPENHAGEN i.e. OMX COPENHAGEN and NIKKEI 225 go up and down completely randomly.
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Comparative Volatility

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