Pair Correlation Between OMX COPENHAGEN and Stockholm

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

Pair Volatility

Assuming 30 trading days horizon, OMX COPENHAGEN is expected to generate 1.41 times less return on investment than Stockholm. But when comparing it to its historical volatility, OMX COPENHAGEN is 1.05 times less risky than Stockholm. It trades about 0.29 of its potential returns per unit of risk. Stockholm is currently generating about 0.38 of returns per unit of risk over similar time horizon. If you would invest  57,330  in Stockholm on December 23, 2017 and sell it today you would earn a total of  1,733  from holding Stockholm or generate 3.02% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between OMX COPENHAGEN and Stockholm


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 Stockholm in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Stockholm 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 Stockholm. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Stockholm has no effect on the direction of OMX COPENHAGEN i.e. OMX COPENHAGEN and Stockholm go up and down completely randomly.

Comparative Volatility

 Predicted Return Density