Correlation Analysis Between OMX COPENHAGEN and Greece TR

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


 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, OMX COPENHAGEN is expected to generate 0.34 times more return on investment than Greece TR. However, OMX COPENHAGEN is 2.94 times less risky than Greece TR. It trades about -0.16 of its potential returns per unit of risk. Greece TR is currently generating about -0.11 per unit of risk. If you would invest  142,182  in OMX COPENHAGEN on August 26, 2018 and sell it today you would lose (4,766)  from holding OMX COPENHAGEN or give up 3.35% of portfolio value over 30 days.

Pair Corralation between OMX COPENHAGEN and Greece TR

Time Period1 Month [change]
ValuesDaily Returns


Pay attention

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

Comparative Volatility

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