Correlation Analysis Between OMX COPENHAGEN and Israel Index

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

OMX COPENHAGEN  vs.  Israel Index

 Performance (%) 
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Pair Volatility

If you would invest  116,833  in Israel Index on August 20, 2018 and sell it today you would earn a total of  0.00  from holding Israel Index or generate 0.0% return on investment over 30 days.

Pair Corralation between OMX COPENHAGEN and Israel Index

0.0
Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Pay attention

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

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