Correlation Analysis Between OMXRGI and DAX

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

Comparative Performance

 Predicted Return Density 


 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, OMXRGI is expected to generate 1.09 times more return on investment than DAX. However, OMXRGI is 1.09 times more volatile than DAX. It trades about 0.09 of its potential returns per unit of risk. DAX is currently generating about -0.1 per unit of risk. If you would invest  93,536  in OMXRGI on November 14, 2018 and sell it today you would earn a total of  2,817  from holding OMXRGI or generate 3.01% return on investment over 30 days.

Pair Corralation between OMXRGI and DAX

Time Period2 Months [change]
ValuesDaily Returns

Diversification Opportunities for OMXRGI and DAX

OMXRGI diversification synergy

Average diversification

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

Thematic Opportunities

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See also your portfolio center. Please also try Coins and Tokens Correlation module to utilize digital token correlation table to build portfolio of cryptocurrencies across multiple exchanges.