Correlation Analysis Between OMXRGI and XU100

This module allows you to analyze existing cross correlation between OMXRGI and XU100. You can compare the effects of market volatilities on OMXRGI and XU100 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 XU100. See also your portfolio center. Please also check ongoing floating volatility patterns of OMXRGI and XU100.
Horizon     30 Days    Login   to change
Compare Efficiency

Comparative Performance

 Predicted Return Density 

OMXRGI  vs.  XU100

 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, OMXRGI is expected to generate 0.7 times more return on investment than XU100. However, OMXRGI is 1.43 times less risky than XU100. It trades about 0.06 of its potential returns per unit of risk. XU100 is currently generating about -0.19 per unit of risk. If you would invest  94,715  in OMXRGI on November 16, 2018 and sell it today you would earn a total of  1,638  from holding OMXRGI or generate 1.73% return on investment over 30 days.

Pair Corralation between OMXRGI and XU100

Time Period2 Months [change]
ValuesDaily Returns

Diversification Opportunities for OMXRGI and XU100

OMXRGI diversification synergy

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding OMXRGI and XU100 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on XU100 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 XU100. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of XU100 has no effect on the direction of OMXRGI i.e. OMXRGI and XU100 go up and down completely randomly.

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See also your portfolio center. Please also try Fundamental Analysis module to view fundamental data based on most recent published financial statements.