Pair Correlation Between OMX COPENHAGEN and NYSE

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

Pair Volatility

Assuming 30 trading days horizon, OMX COPENHAGEN is expected to generate 2.11 times less return on investment than NYSE. In addition to that, OMX COPENHAGEN is 1.02 times more volatile than NYSE. It trades about 0.3 of its total potential returns per unit of risk. NYSE is currently generating about 0.65 per unit of volatility. If you would invest  1,274,755  in NYSE on December 19, 2017 and sell it today you would earn a total of  60,484  from holding NYSE or generate 4.74% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between OMX COPENHAGEN and NYSE


Time Period1 Month [change]
ValuesDaily Returns


Very poor diversification

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

Comparative Volatility

 Predicted Return Density