Pair Correlation Between OMX COPENHAGEN and OMXVGI

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

Pair Volatility

Assuming 30 trading days horizon, OMX COPENHAGEN is expected to under-perform the OMXVGI. In addition to that, OMX COPENHAGEN is 3.03 times more volatile than OMXVGI. It trades about -0.21 of its total potential returns per unit of risk. OMXVGI is currently generating about 0.11 per unit of volatility. If you would invest  65,668  in OMXVGI on October 22, 2017 and sell it today you would earn a total of  372  from holding OMXVGI or generate 0.57% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between OMX COPENHAGEN and OMXVGI


Time Period1 Month [change]
ValuesDaily Returns


Very good diversification

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

Comparative Volatility

 Predicted Return Density