Correlation Analysis Between Stockholm and OMXVGI

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

Stockholm  vs.  OMXVGI

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Stockholm is expected to generate 1.85 times more return on investment than OMXVGI. However, Stockholm is 1.85 times more volatile than OMXVGI. It trades about 0.01 of its potential returns per unit of risk. OMXVGI is currently generating about -0.22 per unit of risk. If you would invest  60,760  in Stockholm on August 26, 2018 and sell it today you would earn a total of  113.00  from holding Stockholm or generate 0.19% return on investment over 30 days.

Pair Corralation between Stockholm and OMXVGI

0.0
Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Stockholm and OMXVGI in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on OMXVGI 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 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 Stockholm i.e. Stockholm and OMXVGI go up and down completely randomly.
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Comparative Volatility

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See also your portfolio center. Please also try Pair Correlation module to compare performance and examine historical correlation between any two equity instruments.


 
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