Correlation Analysis Between OMXVGI and DAX

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

OMXVGI  vs.  DAX

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, OMXVGI is expected to under-perform the DAX. But the index apears to be less risky and, when comparing its historical volatility, OMXVGI is 2.15 times less risky than DAX. The index trades about -0.4 of its potential returns per unit of risk. The DAX is currently generating about 0.0 of returns per unit of risk over similar time horizon. If you would invest  1,233,130  in DAX on August 22, 2018 and sell it today you would lose (482.00)  from holding DAX or give up 0.04% of portfolio value over 30 days.

Pair Corralation between OMXVGI and DAX

0.7
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Poor diversification

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

 Predicted Return Density 
      Returns 

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GOOG - USA Stock
Alphabet
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ExchangeNASDAQ
$1161.22

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