Correlation Analysis Between OMXRGI and NYSE

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


 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, OMXRGI is expected to generate 1.53 times more return on investment than NYSE. However, OMXRGI is 1.53 times more volatile than NYSE. It trades about -0.16 of its potential returns per unit of risk. NYSE is currently generating about -0.29 per unit of risk. If you would invest  98,936  in OMXRGI on September 23, 2018 and sell it today you would lose (5,083)  from holding OMXRGI or give up 5.14% of portfolio value over 30 days.

Pair Corralation between OMXRGI and NYSE

Time Period1 Month [change]
ValuesDaily Returns


Very poor diversification

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

Comparative Volatility

 Predicted Return Density 

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See also your portfolio center. Please also try Chance of Distress module to get analysis of equity chance of financial distress in the next 2 years.