- Companies in United States
- Peer Analysis
This module allows you to analyze existing cross correlation between OMXVGI and DAX. You can compare the effects of market volatilities on OMXVGI and DAX 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 OMXVGI with a short position of DAX. See also your portfolio center. Please also check ongoing floating volatility patterns of OMXVGI and DAX.
|Horizon||30 Days Login to change|
Predicted Return Density
OMXVGI vs. DAX
Assuming 30 trading days horizon, OMXVGI is expected to generate 1.54 times less return on investment than DAX. But when comparing it to its historical volatility, OMXVGI is 2.79 times less risky than DAX. It trades about 0.19 of its potential returns per unit of risk. DAX is currently generating about 0.11 of returns per unit of risk over similar time horizon. If you would invest 1,076,621 in DAX on January 18, 2019 and sell it today you would earn a total of 53,359 from holding DAX or generate 4.96% return on investment over 30 days.
Pair Corralation between OMXVGI and DAX
|Time Period||2 Months [change]|
Diversification Opportunities for OMXVGI and DAX
Very poor diversification
Overlapping area represents the amount of risk that can be diversified away by holding OMXVGI and DAX in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on DAX and OMXVGI 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 OMXVGI are associated (or correlated) with DAX. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DAX has no effect on the direction of OMXVGI i.e. OMXVGI and DAX go up and down completely randomly.