Pair Correlation Between OMX COPENHAGEN and Shanghai

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

Pair Volatility

Assuming 30 trading days horizon, OMX COPENHAGEN is expected to generate 0.86 times more return on investment than Shanghai. However, OMX COPENHAGEN is 1.17 times less risky than Shanghai. It trades about -0.08 of its potential returns per unit of risk. Shanghai is currently generating about -0.39 per unit of risk. If you would invest  137,081  in OMX COPENHAGEN on January 18, 2018 and sell it today you would lose (2,505)  from holding OMX COPENHAGEN or give up 1.83% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between OMX COPENHAGEN and Shanghai


Time Period1 Month [change]
ValuesDaily Returns


Significant diversification

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

Comparative Volatility

 Predicted Return Density