Correlation Analysis Between OMXRGI and MerVal

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

OMXRGI  vs.  MerVal

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, OMXRGI is expected to under-perform the MerVal. But the index apears to be less risky and, when comparing its historical volatility, OMXRGI is 3.73 times less risky than MerVal. The index trades about -0.06 of its potential returns per unit of risk. The MerVal is currently generating about 0.27 of returns per unit of risk over similar time horizon. If you would invest  2,623,882  in MerVal on August 22, 2018 and sell it today you would earn a total of  827,542  from holding MerVal or generate 31.54% return on investment over 30 days.

Pair Corralation between OMXRGI and MerVal

-0.22
Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Very good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

My Equities

My Current Equities and Potential Positions

View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1161.22

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Instant Ratings module to determine any equity ratings based on digital recommendations. macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.


 
Search macroaxis.com