- Companies in United States
- Peer Analysis
This module allows you to analyze existing cross correlation between NIKKEI 225 and OMX COPENHAGEN. You can compare the effects of market volatilities on NIKKEI 225 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 NIKKEI 225 with a short position of OMX COPENHAGEN. See also your portfolio center. Please also check ongoing floating volatility patterns of NIKKEI 225 and OMX COPENHAGEN.
|Horizon||30 Days Login to change|
Predicted Return Density
NIKKEI 225 vs. OMX COPENHAGEN
Assuming 30 trading days horizon, NIKKEI 225 is expected to generate 1.49 times more return on investment than OMX COPENHAGEN. However, NIKKEI 225 is 1.49 times more volatile than OMX COPENHAGEN. It trades about 0.24 of its potential returns per unit of risk. OMX COPENHAGEN is currently generating about 0.24 per unit of risk. If you would invest 1,933,886 in NIKKEI 225 on January 20, 2019 and sell it today you would earn a total of 196,379 from holding NIKKEI 225 or generate 10.15% return on investment over 30 days.
Pair Corralation between NIKKEI 225 and OMX COPENHAGEN
|Time Period||2 Months [change]|
Diversification Opportunities for NIKKEI 225 and OMX COPENHAGEN
Very good diversification
Overlapping area represents the amount of risk that can be diversified away by holding NIKKEI 225 and OMX COPENHAGEN in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on OMX COPENHAGEN and NIKKEI 225 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 NIKKEI 225 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 NIKKEI 225 i.e. NIKKEI 225 and OMX COPENHAGEN go up and down completely randomly.