Pair Correlation Between OMXVGI and MerVal

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

OMXVGI  vs.  MerVal

 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, OMXVGI is expected to generate 0.44 times more return on investment than MerVal. However, OMXVGI is 2.27 times less risky than MerVal. It trades about 0.16 of its potential returns per unit of risk. MerVal is currently generating about -0.17 per unit of risk. If you would invest  67,362  in OMXVGI on March 27, 2018 and sell it today you would earn a total of  2,635  from holding OMXVGI or generate 3.91% return on investment over 30 days.

Pair Corralation between OMXVGI and MerVal

Time Period2 Months [change]
StrengthVery Strong
ValuesDaily Returns


No risk reduction

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

Comparative Volatility

 Predicted Return Density 

My Equities

My Current Equities and Potential Positions
View AllNext
GOOG - USA Stock
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway

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 Fund Screener module to find activelly-traded funds from around the world traded on over 30 global exchanges.