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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|
Predicted Return Density
Greece TR vs. OMXVGI
Assuming 30 trading days horizon, Greece TR is expected to generate 2.79 times more return on investment than OMXVGI. However, Greece TR is 2.79 times more volatile than OMXVGI. It trades about 0.14 of its potential returns per unit of risk. OMXVGI is currently generating about 0.31 per unit of risk. If you would invest 39,739 in Greece TR on January 20, 2019 and sell it today you would earn a total of 2,680 from holding Greece TR or generate 6.74% return on investment over 30 days.
Pair Corralation between Greece TR and OMXVGI
|Time Period||2 Months [change]|
Diversification Opportunities for Greece TR and OMXVGI
Very weak diversification
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.