Pair Correlation Between OMX COPENHAGEN and NQPH

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

Pair Volatility

Assuming 30 trading days horizon, OMX COPENHAGEN is expected to generate 1.01 times more return on investment than NQPH. However, OMX COPENHAGEN is 1.01 times more volatile than NQPH. It trades about 0.09 of its potential returns per unit of risk. NQPH is currently generating about -0.24 per unit of risk. If you would invest  132,157  in OMX COPENHAGEN on February 15, 2018 and sell it today you would earn a total of  2,140  from holding OMX COPENHAGEN or generate 1.62% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between OMX COPENHAGEN and NQPH


Time Period1 Month [change]
StrengthVery Strong
ValuesDaily Returns


No risk reduction

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

Comparative Volatility

 Predicted Return Density