Correlation Analysis Between OMXRGI and IPC

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

OMXRGI  vs.  IPC

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, OMXRGI is expected to under-perform the IPC. In addition to that, OMXRGI is 1.37 times more volatile than IPC. It trades about -0.09 of its total potential returns per unit of risk. IPC is currently generating about 0.24 per unit of volatility. If you would invest  4,693,882  in IPC on June 15, 2018 and sell it today you would earn a total of  146,719  from holding IPC or generate 3.13% return on investment over 30 days.

Pair Corralation between OMXRGI and IPC

0.57
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy75.0%
ValuesDaily Returns

Diversification

Very weak diversification

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

 Predicted Return Density 
      Returns 

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See also your portfolio center. Please also try Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.