Correlation Analysis Between NYSE and OMXVGI

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

NYSE  vs.  OMXVGI

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, NYSE is expected to generate 2.59 times more return on investment than OMXVGI. However, NYSE is 2.59 times more volatile than OMXVGI. It trades about 0.1 of its potential returns per unit of risk. OMXVGI is currently generating about 0.06 per unit of risk. If you would invest  1,263,957  in NYSE on June 22, 2018 and sell it today you would earn a total of  15,034  from holding NYSE or generate 1.19% return on investment over 30 days.

Pair Corralation between NYSE and OMXVGI

0.38
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy79.31%
ValuesDaily Returns

Diversification

Weak diversification

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

 Predicted Return Density 
      Returns 

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GOOG - USA Stock
Alphabet
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IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1186.96

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See also your portfolio center. Please also try Cryptocurrency Correlation module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins and exchanges.


 
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