Correlation Analysis Between OMXVGI and All Ords

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

OMXVGI  vs.  All Ords

 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, OMXVGI is expected to generate 1.75 times less return on investment than All Ords. But when comparing it to its historical volatility, OMXVGI is 1.9 times less risky than All Ords. It trades about 0.07 of its potential returns per unit of risk. All Ords is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest  633,290  in All Ords on June 21, 2018 and sell it today you would earn a total of  4,450  from holding All Ords or generate 0.7% return on investment over 30 days.

Pair Corralation between OMXVGI and All Ords

Time Period1 Month [change]
ValuesDaily Returns


Poor diversification

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

Comparative Volatility

 Predicted Return Density 

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