Correlation Analysis Between Orthofix International and XU100

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

Comparative Performance

 Predicted Return Density 

Orthofix International N V  vs.  XU100

 Performance (%) 

Pair Volatility

Given the investment horizon of 30 days, Orthofix International is expected to generate 1.14 times less return on investment than XU100. In addition to that, Orthofix International is 1.82 times more volatile than XU100. It trades about 0.09 of its total potential returns per unit of risk. XU100 is currently generating about 0.18 per unit of volatility. If you would invest  10,177,429  in XU100 on February 17, 2019 and sell it today you would earn a total of  282,037  from holding XU100 or generate 2.77% return on investment over 30 days.

Pair Corralation between Orthofix International and XU100

Time Period2 Months [change]
StrengthVery Weak
ValuesDaily Returns

Diversification Opportunities for Orthofix International and XU100

Orthofix International N V diversification synergy

Very good diversification

Overlapping area represents the amount of risk that can be diversified away by holding Orthofix International N V and XU100 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on XU100 and Orthofix International 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 Orthofix International N V 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 Orthofix International i.e. Orthofix International and XU100 go up and down completely randomly.

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See also your portfolio center. Please also try Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.