Correlation Analysis Between OMX COPENHAGEN and Madrid Gnrl

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

OMX COPENHAGEN  vs.  Madrid Gnrl

 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, OMX COPENHAGEN is expected to under-perform the Madrid Gnrl. In addition to that, OMX COPENHAGEN is 1.57 times more volatile than Madrid Gnrl. It trades about -0.06 of its total potential returns per unit of risk. Madrid Gnrl is currently generating about 0.02 per unit of volatility. If you would invest  96,815  in Madrid Gnrl on August 22, 2018 and sell it today you would earn a total of  207.00  from holding Madrid Gnrl or generate 0.21% return on investment over 30 days.

Pair Corralation between OMX COPENHAGEN and Madrid Gnrl

Time Period1 Month [change]
ValuesDaily Returns


Very weak diversification

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

Comparative Volatility

 Predicted Return Density 

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