Pair Correlation Between FTSE MIB and OMXVGI

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

Pair Volatility

Assuming 30 trading days horizon, FTSE MIB is expected to generate 1.71 times more return on investment than OMXVGI. However, FTSE MIB is 1.71 times more volatile than OMXVGI. It trades about 0.44 of its potential returns per unit of risk. OMXVGI is currently generating about 0.21 per unit of risk. If you would invest  2,210,965  in FTSE MIB on December 20, 2017 and sell it today you would earn a total of  140,502  from holding FTSE MIB or generate 6.35% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between FTSE MIB and OMXVGI


Time Period1 Month [change]
ValuesDaily Returns


Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding FTSE MIB and OMXVGI in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on OMXVGI and FTSE MIB 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 FTSE MIB 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 FTSE MIB i.e. FTSE MIB and OMXVGI go up and down completely randomly.

Comparative Volatility

 Predicted Return Density