Pair Correlation 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.
 Time Horizon     30 Days    Login   to change
 Stockholm  vs   OMXVGI
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Stockholm is expected to under-perform the OMXVGI. But the index apears to be less risky and, when comparing its historical volatility, Stockholm is 2.03 times less risky than OMXVGI. The index trades about -0.15 of its potential returns per unit of risk. The OMXVGI is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest  66,776  in OMXVGI on January 22, 2018 and sell it today you would earn a total of  273.00  from holding OMXVGI or generate 0.41% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Stockholm and OMXVGI


Time Period1 Month [change]
ValuesDaily Returns


Average diversification

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.

Comparative Volatility

 Predicted Return Density