Correlation Analysis Between OMXVGI and OSE All

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

Comparative Performance

 Predicted Return Density 

OMXVGI  vs.  OSE All

 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, OMXVGI is expected to generate 0.37 times more return on investment than OSE All. However, OMXVGI is 2.72 times less risky than OSE All. It trades about -0.23 of its potential returns per unit of risk. OSE All is currently generating about -0.11 per unit of risk. If you would invest  66,243  in OMXVGI on November 13, 2018 and sell it today you would lose (3,189)  from holding OMXVGI or give up 4.81% of portfolio value over 30 days.

Pair Corralation between OMXVGI and OSE All

Time Period2 Months [change]
ValuesDaily Returns

Diversification Opportunities for OMXVGI and OSE All

OMXVGI diversification synergy

Poor diversification

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

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 Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.