Pair Correlation Between Straits Tms and OMX COPENHAGEN

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.
 Time Horizon     30 Days    Login   to change
 Straits Tms  vs   OMX COPENHAGEN
 Performance (%) 

Pair Volatility

Given the investment horizon of 30 days, Straits Tms is expected to under-perform the OMX COPENHAGEN. In addition to that, Straits Tms is 1.33 times more volatile than OMX COPENHAGEN. It trades about -0.17 of its total potential returns per unit of risk. OMX COPENHAGEN is currently generating about -0.17 per unit of volatility. If you would invest  135,967  in OMX COPENHAGEN on February 23, 2018 and sell it today you would lose (3,709)  from holding OMX COPENHAGEN or give up 2.73% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Straits Tms and OMX COPENHAGEN


Time Period1 Month [change]
StrengthVery Weak
ValuesDaily Returns


Modest diversification

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.

Comparative Volatility

 Predicted Return Density