Correlation Analysis Between Greece TR and OMXVGI

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

 Predicted Return Density 
      Returns 

Greece TR  vs.  OMXVGI

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Greece TR is expected to generate 6.92 times more return on investment than OMXVGI. However, Greece TR is 6.92 times more volatile than OMXVGI. It trades about 0.13 of its potential returns per unit of risk. OMXVGI is currently generating about -0.11 per unit of risk. If you would invest  50,232  in Greece TR on May 17, 2019 and sell it today you would earn a total of  4,952  from holding Greece TR or generate 9.86% return on investment over 30 days.

Pair Corralation between Greece TR and OMXVGI

-0.78
Time Period2 Months [change]
DirectionNegative 
StrengthWeak
Accuracy95.12%
ValuesDaily Returns

Diversification Opportunities for Greece TR and OMXVGI

Greece TR diversification synergy

Pay attention

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