Correlation Analysis Between OMXRGI and OSE All

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

 Predicted Return Density 
      Returns 

OMXRGI  vs.  OSE All

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, OMXRGI is expected to generate 1.04 times more return on investment than OSE All. However, OMXRGI is 1.04 times more volatile than OSE All. It trades about 0.16 of its potential returns per unit of risk. OSE All is currently generating about 0.13 per unit of risk. If you would invest  94,518  in OMXRGI on January 18, 2019 and sell it today you would earn a total of  3,464  from holding OMXRGI or generate 3.66% return on investment over 30 days.

Pair Corralation between OMXRGI and OSE All

0.28
Time Period2 Months [change]
DirectionPositive 
StrengthVery Weak
Accuracy50.0%
ValuesDaily Returns

Diversification Opportunities for OMXRGI and OSE All

OMXRGI diversification synergy

Modest diversification

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