Correlation Analysis Between OMXVGI and NIKKEI 225

This module allows you to analyze existing cross correlation between OMXVGI and NIKKEI 225. You can compare the effects of market volatilities on OMXVGI and NIKKEI 225 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 NIKKEI 225. See also your portfolio center. Please also check ongoing floating volatility patterns of OMXVGI and NIKKEI 225.
Horizon     30 Days    Login   to change
Symbolsvs
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Comparative Performance

OMXVGI  vs.  NIKKEI 225

 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  0.00  in OMXVGI on May 25, 2019 and sell it today you would earn a total of  66,833  from holding OMXVGI or generate 9.223372036854776E16% return on investment over 30 days.

Pair Corralation between OMXVGI and NIKKEI 225

0.0
Time Period2 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.19%
ValuesDaily Returns

Diversification Opportunities for OMXVGI and NIKKEI 225

OMXVGI diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding OMXVGI and NIKKEI 225 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NIKKEI 225 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 NIKKEI 225. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NIKKEI 225 has no effect on the direction of OMXVGI i.e. OMXVGI and NIKKEI 225 go up and down completely randomly.
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See also your portfolio center. Please also try Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.


 
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