Correlation Analysis Between OMX COPENHAGEN and Nasdaq

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

OMX COPENHAGEN  vs.  Nasdaq

 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  141,634  in OMX COPENHAGEN on May 19, 2019 and sell it today you would earn a total of  1,856  from holding OMX COPENHAGEN or generate 1.31% return on investment over 30 days.

Pair Corralation between OMX COPENHAGEN and Nasdaq

0.0
Time Period2 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

Diversification Opportunities for OMX COPENHAGEN and Nasdaq

OMX COPENHAGEN diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding OMX COPENHAGEN and Nasdaq in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Nasdaq and OMX COPENHAGEN 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 OMX COPENHAGEN are associated (or correlated) with Nasdaq. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Nasdaq has no effect on the direction of OMX COPENHAGEN i.e. OMX COPENHAGEN and Nasdaq go up and down completely randomly.
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See also your portfolio center. Please also try Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.


 
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