Correlation Analysis Between OMXVGI and ATX

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

Comparative Performance

 Predicted Return Density 
      Returns 

OMXVGI  vs.  ATX

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, OMXVGI is expected to generate 0.27 times more return on investment than ATX. However, OMXVGI is 3.69 times less risky than ATX. It trades about -0.31 of its potential returns per unit of risk. ATX is currently generating about -0.12 per unit of risk. If you would invest  67,104  in OMXVGI on November 16, 2018 and sell it today you would lose (4,138)  from holding OMXVGI or give up 6.17% of portfolio value over 30 days.

Pair Corralation between OMXVGI and ATX

0.43
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy87.23%
ValuesDaily Returns

Diversification Opportunities for OMXVGI and ATX

OMXVGI diversification synergy

Very weak diversification

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

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.


 
Search macroaxis.com