Pair Correlation Between OMXRGI and OMXVGI |
This module allows you to analyze existing cross correlation between OMXRGI and OMXVGI. You can compare the effects of market volatilities on OMXRGI and OMXVGI 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 OMXVGI. See also your portfolio center. Please also check ongoing floating volatility patterns of OMXRGI and OMXVGI.
Time Horizon | 30 Days Login to change |
Symbols | vs |
OMXRGI vs. OMXVGI
Pair Volatility
Assuming 30 trading days horizon, OMXRGI is expected to generate 1.57 times less return on investment than OMXVGI. In addition to that, OMXRGI is 1.91 times more volatile than OMXVGI. It trades about 0.08 of its total potential returns per unit of risk. OMXVGI is currently generating about 0.23 per unit of volatility. If you would invest 66,882 in OMXVGI on March 23, 2018 and sell it today you would earn a total of 3,738 from holding OMXVGI or generate 5.59% return on investment over 30 days.
Pair Corralation between OMXRGI and OMXVGI
1.0
Time Period | 2 Months [change] |
Direction | Positive |
Strength | Very Strong |
Accuracy | 94.0% |
Values | Daily Returns |
Diversification
No risk reduction
Overlapping area represents the amount of risk that can be diversified away by holding OMXRGI and OMXVGI in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on OMXVGI 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 OMXVGI. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of OMXVGI has no effect on the direction of OMXRGI i.e. OMXRGI and OMXVGI go up and down completely randomly.
Comparative Volatility
OMXVGI
Pair trading matchups for OMXVGI
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See also your portfolio center. Please also try Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.