This module allows you to analyze existing cross correlation between Straits Tms and OMX COPENHAGEN. You can compare the effects of market volatilities on Straits Tms and OMX COPENHAGEN 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 Straits Tms with a short position of OMX COPENHAGEN. See also your portfolio center. Please also check ongoing floating volatility patterns of Straits Tms and OMX COPENHAGEN.
|Horizon||30 Days Login to change|
Predicted Return Density
Straits Tms vs. OMX COPENHAGEN
Given the investment horizon of 30 days, Straits Tms is expected to under-perform the OMX COPENHAGEN. But the index apears to be less risky and, when comparing its historical volatility, Straits Tms is 1.92 times less risky than OMX COPENHAGEN. The index trades about -0.17 of its potential returns per unit of risk. The OMX COPENHAGEN is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest 143,837 in OMX COPENHAGEN on September 21, 2019 and sell it today you would earn a total of 1,412 from holding OMX COPENHAGEN or generate 0.98% return on investment over 30 days.
Pair Corralation between Straits Tms and OMX COPENHAGEN
|Time Period||3 Months [change]|
Diversification Opportunities for Straits Tms and OMX COPENHAGEN
Overlapping area represents the amount of risk that can be diversified away by holding Straits Tms and OMX COPENHAGEN in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on OMX COPENHAGEN and Straits Tms 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 Straits Tms are associated (or correlated) with OMX COPENHAGEN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of OMX COPENHAGEN has no effect on the direction of Straits Tms i.e. Straits Tms and OMX COPENHAGEN go up and down completely randomly.
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