Correlation Analysis Between OMXVGI and NYSE

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

OMXVGI  vs.  NYSE

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, OMXVGI is expected to generate 0.73 times more return on investment than NYSE. However, OMXVGI is 1.36 times less risky than NYSE. It trades about -0.31 of its potential returns per unit of risk. NYSE is currently generating about -0.25 per unit of risk. If you would invest  69,109  in OMXVGI on September 15, 2018 and sell it today you would lose (2,866)  from holding OMXVGI or give up 4.15% of portfolio value over 30 days.

Pair Corralation between OMXVGI and NYSE

0.88
Time Period1 Month [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification

Very poor diversification

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

 Predicted Return Density 
      Returns 

My Equities

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1092.25

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See also your portfolio center. Please also try Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.


 
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