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
Compare Efficiency

Comparative Performance

 Predicted Return Density 


 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, OMXVGI is expected to generate 0.43 times more return on investment than DAX. However, OMXVGI is 2.32 times less risky than DAX. It trades about -0.23 of its potential returns per unit of risk. DAX is currently generating about -0.1 per unit of risk. If you would invest  66,243  in OMXVGI on November 14, 2018 and sell it today you would lose (3,277)  from holding OMXVGI or give up 4.95% of portfolio value over 30 days.

Pair Corralation between OMXVGI and DAX

Time Period2 Months [change]
ValuesDaily Returns

Diversification Opportunities for OMXVGI and DAX

OMXVGI diversification synergy

Very weak 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.

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 Chance of Distress module to get analysis of equity chance of financial distress in the next 2 years.