Correlation Analysis Between OMX COPENHAGEN and Straits Tms

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

OMX COPENHAGEN  vs.  Straits Tms

 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, OMX COPENHAGEN is expected to under-perform the Straits Tms. In addition to that, OMX COPENHAGEN is 1.44 times more volatile than Straits Tms. It trades about -0.16 of its total potential returns per unit of risk. Straits Tms is currently generating about -0.01 per unit of volatility. If you would invest  322,562  in Straits Tms on August 26, 2018 and sell it today you would lose (646.00)  from holding Straits Tms or give up 0.2% of portfolio value over 30 days.

Pair Corralation between OMX COPENHAGEN and Straits Tms

Time Period1 Month [change]
ValuesDaily Returns


Pay attention

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

Comparative Volatility

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