Correlation Analysis Between OMXVGI and Greece TR

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

OMXVGI  vs.  Greece TR

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, OMXVGI is expected to under-perform the Greece TR. But the index apears to be less risky and, when comparing its historical volatility, OMXVGI is 3.39 times less risky than Greece TR. The index trades about -0.23 of its potential returns per unit of risk. The Greece TR is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest  42,308  in Greece TR on November 13, 2018 and sell it today you would earn a total of  688.00  from holding Greece TR or generate 1.63% return on investment over 30 days.

Pair Corralation between OMXVGI and Greece TR

0.43
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy93.02%
ValuesDaily Returns

Diversification

OMXVGI diversification synergy

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

My Equities

My Current Equities and Potential Positions

View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1060.75

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 Transaction History module to view history of all your transactions and understand their impact on performance.


 
Search macroaxis.com