Pair Correlation Between Stockholm and OMXRGI

This module allows you to analyze existing cross correlation between Stockholm and OMXRGI. You can compare the effects of market volatilities on Stockholm and OMXRGI 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 Stockholm with a short position of OMXRGI. See also your portfolio center. Please also check ongoing floating volatility patterns of Stockholm and OMXRGI.
 Time Horizon     30 Days    Login   to change
 Stockholm  vs   OMXRGI
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Stockholm is expected to under-perform the OMXRGI. In addition to that, Stockholm is 1.16 times more volatile than OMXRGI. It trades about -0.15 of its total potential returns per unit of risk. OMXRGI is currently generating about -0.07 per unit of volatility. If you would invest  103,867  in OMXRGI on January 22, 2018 and sell it today you would lose (1,442)  from holding OMXRGI or give up 1.39% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Stockholm and OMXRGI


Time Period1 Month [change]
ValuesDaily Returns


Very poor diversification

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

Comparative Volatility

 Predicted Return Density