Correlation Analysis Between XU100 and OMXVGI

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

 Predicted Return Density 
      Returns 

XU100  vs.  OMXVGI

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, XU100 is expected to generate 4.27 times more return on investment than OMXVGI. However, XU100 is 4.27 times more volatile than OMXVGI. It trades about 0.31 of its potential returns per unit of risk. OMXVGI is currently generating about 0.31 per unit of risk. If you would invest  9,121,239  in XU100 on January 20, 2019 and sell it today you would earn a total of  1,052,975  from holding XU100 or generate 11.54% return on investment over 30 days.

Pair Corralation between XU100 and OMXVGI

-0.02
Time Period2 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy51.43%
ValuesDaily Returns

Diversification Opportunities for XU100 and OMXVGI

XU100 diversification synergy

Good diversification

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