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This module allows you to analyze existing cross correlation between Greece TR and OMXRGI. You can compare the effects of market volatilities on Greece TR and OMXRGI 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 Greece TR with a short position of OMXRGI. See also your portfolio center. Please also check ongoing floating volatility patterns of Greece TR and OMXRGI.
|Horizon||30 Days Login to change|
Predicted Return Density
Greece TR vs. OMXRGI
Assuming 30 trading days horizon, Greece TR is expected to generate 5.17 times less return on investment than OMXRGI. But when comparing it to its historical volatility, Greece TR is 1.05 times less risky than OMXRGI. It trades about 0.03 of its potential returns per unit of risk. OMXRGI is currently generating about 0.16 of returns per unit of risk over similar time horizon. If you would invest 94,518 in OMXRGI on January 18, 2019 and sell it today you would earn a total of 3,464 from holding OMXRGI or generate 3.66% return on investment over 30 days.
Pair Corralation between Greece TR and OMXRGI
|Time Period||2 Months [change]|
Diversification Opportunities for Greece TR and OMXRGI
Overlapping area represents the amount of risk that can be diversified away by holding Greece TR and OMXRGI in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on OMXRGI and Greece TR 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 Greece TR are associated (or correlated) with OMXRGI. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of OMXRGI has no effect on the direction of Greece TR i.e. Greece TR and OMXRGI go up and down completely randomly.