Correlation Analysis Between OMXRGI and Russia TR

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

Comparative Performance

 Predicted Return Density 
      Returns 

OMXRGI  vs.  Russia TR

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, OMXRGI is expected to generate 1.03 times less return on investment than Russia TR. In addition to that, OMXRGI is 1.14 times more volatile than Russia TR. It trades about 0.3 of its total potential returns per unit of risk. Russia TR is currently generating about 0.36 per unit of volatility. If you would invest  114,812  in Russia TR on January 21, 2019 and sell it today you would earn a total of  14,289  from holding Russia TR or generate 12.45% return on investment over 30 days.

Pair Corralation between OMXRGI and Russia TR

0.4
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy47.22%
ValuesDaily Returns

Diversification Opportunities for OMXRGI and Russia TR

OMXRGI diversification synergy

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding OMXRGI and Russia TR in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Russia TR and OMXRGI 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 OMXRGI are associated (or correlated) with Russia TR. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Russia TR has no effect on the direction of OMXRGI i.e. OMXRGI and Russia TR go up and down completely randomly.
    Optimize

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Focused Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.


 
Search macroaxis.com