Correlation Analysis Between OSE All and OMXVGI

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

OSE All  vs.  OMXVGI

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, OSE All is expected to generate 3.38 times more return on investment than OMXVGI. However, OSE All is 3.38 times more volatile than OMXVGI. It trades about 0.12 of its potential returns per unit of risk. OMXVGI is currently generating about 0.02 per unit of risk. If you would invest  96,843  in OSE All on May 26, 2018 and sell it today you would earn a total of  2,299  from holding OSE All or generate 2.37% return on investment over 30 days.

Pair Corralation between OSE All and OMXVGI

0.34
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Weak diversification

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

 Predicted Return Density 
      Returns 

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