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.
 Time Horizon     30 Days    Login   to change
Symbolsvs

OMXVGI  vs.  DAX

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, OMXVGI is expected to generate 0.31 times more return on investment than DAX. However, OMXVGI is 3.26 times less risky than DAX. It trades about 0.07 of its potential returns per unit of risk. DAX is currently generating about -0.11 per unit of risk. If you would invest  70,842  in OMXVGI on May 21, 2018 and sell it today you would earn a total of  368.90  from holding OMXVGI or generate 0.52% return on investment over 30 days.

Pair Corralation between OMXVGI and DAX

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 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

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