Correlation Analysis Between OMXRGI and OSE All |
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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 |
| Symbols | vs |
Comparative Performance
OMXRGI vs. OSE All
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 Period | 2 Months [change] |
| Direction | Positive |
| Strength | Very Weak |
| Accuracy | 50.0% |
| Values | Daily Returns |
Diversification Opportunities for OMXRGI and OSE All
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.
Thematic Opportunities
Explore Investment Opportunities
OMXRGI
Pair trading matchups for OMXRGI
OSE All
Pair trading matchups for OSE All
See also your portfolio center. Please also try Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
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