Correlation Analysis Between OMXRGI and BSE

This module allows you to analyze existing cross correlation between OMXRGI and BSE. You can compare the effects of market volatilities on OMXRGI and BSE 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 OMXRGI with a short position of BSE. See also your portfolio center. Please also check ongoing floating volatility patterns of OMXRGI and BSE.
Horizon     30 Days    Login   to change
Symbolsvs

OMXRGI  vs.  BSE

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, OMXRGI is expected to generate 2.46 times more return on investment than BSE. However, OMXRGI is 2.46 times more volatile than BSE. It trades about -0.07 of its potential returns per unit of risk. BSE is currently generating about -0.26 per unit of risk. If you would invest  100,051  in OMXRGI on August 21, 2018 and sell it today you would lose (2,248)  from holding OMXRGI or give up 2.25% of portfolio value over 30 days.

Pair Corralation between OMXRGI and BSE

0.08
Time Period1 Month [change]
DirectionPositive 
StrengthInsignificant
Accuracy95.65%
ValuesDaily Returns

Diversification

Significant diversification

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

 Predicted Return Density 
      Returns 

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Alphabet
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ExchangeNASDAQ
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