Pair Correlation Between OMX COPENHAGEN and OMXRGI

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

Pair Volatility

Assuming 30 trading days horizon, OMX COPENHAGEN is expected to generate 1.8 times less return on investment than OMXRGI. But when comparing it to its historical volatility, OMX COPENHAGEN is 1.4 times less risky than OMXRGI. It trades about 0.36 of its potential returns per unit of risk. OMXRGI is currently generating about 0.46 of returns per unit of risk over similar time horizon. If you would invest  99,301  in OMXRGI on December 21, 2017 and sell it today you would earn a total of  4,724  from holding OMXRGI or generate 4.76% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between OMX COPENHAGEN and OMXRGI


Time Period1 Month [change]
ValuesDaily Returns


Poor diversification

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

Comparative Volatility

 Predicted Return Density