Pair Correlation Between OMX COPENHAGEN and OSE All

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

Pair Volatility

Assuming 30 trading days horizon, OMX COPENHAGEN is expected to under-perform the OSE All. But the index apears to be less risky and, when comparing its historical volatility, OMX COPENHAGEN is 1.02 times less risky than OSE All. The index trades about -0.19 of its potential returns per unit of risk. The OSE All is currently generating about -0.18 of returns per unit of risk over similar time horizon. If you would invest  94,047  in OSE All on January 21, 2018 and sell it today you would lose (3,716)  from holding OSE All or give up 3.95% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between OMX COPENHAGEN and OSE All


Time Period1 Month [change]
StrengthVery Strong
ValuesDaily Returns


Almost no diversification

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

Comparative Volatility

 Predicted Return Density