Correlation Analysis Between OMXVGI and XU100

This module allows you to analyze existing cross correlation between OMXVGI and XU100. You can compare the effects of market volatilities on OMXVGI and XU100 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 XU100. See also your portfolio center. Please also check ongoing floating volatility patterns of OMXVGI and XU100.
Horizon     30 Days    Login   to change
Compare Efficiency

Comparative Performance

 Predicted Return Density 

OMXVGI  vs.  XU100

 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, OMXVGI is expected to generate 4.75 times less return on investment than XU100. But when comparing it to its historical volatility, OMXVGI is 4.76 times less risky than XU100. It trades about 0.32 of its potential returns per unit of risk. XU100 is currently generating about 0.32 of returns per unit of risk over similar time horizon. If you would invest  9,152,690  in XU100 on January 21, 2019 and sell it today you would earn a total of  1,044,439  from holding XU100 or generate 11.41% return on investment over 30 days.

Pair Corralation between OMXVGI and XU100

Time Period2 Months [change]
ValuesDaily Returns

Diversification Opportunities for OMXVGI and XU100

OMXVGI diversification synergy

Good diversification

Overlapping area represents the amount of risk that can be diversified away by holding OMXVGI and XU100 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on XU100 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 XU100. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of XU100 has no effect on the direction of OMXVGI i.e. OMXVGI and XU100 go up and down completely randomly.

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 Price Ceiling Movement module to calculate and plot price ceiling movement for different equity instruments.