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.
 Time Horizon     30 Days    Login   to change


 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, OMXVGI is expected to generate 8.18 times less return on investment than NYSE. But when comparing it to its historical volatility, OMXVGI is 2.18 times less risky than NYSE. It trades about 0.06 of its potential returns per unit of risk. NYSE is currently generating about 0.24 of returns per unit of risk over similar time horizon. If you would invest  1,248,160  in NYSE on June 23, 2018 and sell it today you would earn a total of  30,831  from holding NYSE or generate 2.47% return on investment over 30 days.

Pair Corralation between OMXVGI and NYSE

Time Period1 Month [change]
ValuesDaily Returns


Very weak 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.

Comparative Volatility

 Predicted Return Density 

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