Correlation Analysis Between OMXVGI and OMXRGI

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

OMXVGI  vs.  OMXRGI

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, OMXVGI is expected to under-perform the OMXRGI. But the index apears to be less risky and, when comparing its historical volatility, OMXVGI is 1.77 times less risky than OMXRGI. The index trades about -0.22 of its potential returns per unit of risk. The OMXRGI is currently generating about 0.11 of returns per unit of risk over similar time horizon. If you would invest  93,536  in OMXRGI on October 13, 2018 and sell it today you would earn a total of  1,470  from holding OMXRGI or generate 1.57% return on investment over 30 days.

Pair Corralation between OMXVGI and OMXRGI

0.01
Time Period1 Month [change]
DirectionPositive 
StrengthInsignificant
Accuracy65.0%
ValuesDaily Returns

Diversification

OMXVGI diversification synergy

Significant diversification

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

 Predicted Return Density 
      Returns 

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Alphabet
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ExchangeNASDAQ
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