Correlation Analysis Between EURONEXT BEL-20 and NQPH

This module allows you to analyze existing cross correlation between EURONEXT BEL-20 and NQPH. You can compare the effects of market volatilities on EURONEXT BEL-20 and NQPH 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 EURONEXT BEL-20 with a short position of NQPH. See also your portfolio center. Please also check ongoing floating volatility patterns of EURONEXT BEL-20 and NQPH.
 Time Horizon     30 Days    Login   to change
Symbolsvs

EURONEXT BEL-20  vs.  NQPH

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, EURONEXT BEL-20 is expected to generate 2.8 times less return on investment than NQPH. But when comparing it to its historical volatility, EURONEXT BEL-20 is 2.03 times less risky than NQPH. It trades about 0.12 of its potential returns per unit of risk. NQPH is currently generating about 0.16 of returns per unit of risk over similar time horizon. If you would invest  95,107  in NQPH on June 22, 2018 and sell it today you would earn a total of  3,662  from holding NQPH or generate 3.85% return on investment over 30 days.

Pair Corralation between EURONEXT BEL-20 and NQPH

0.66
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding EURONEXT BEL-20 and NQPH in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NQPH and EURONEXT BEL-20 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 EURONEXT BEL-20 are associated (or correlated) with NQPH. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NQPH has no effect on the direction of EURONEXT BEL-20 i.e. EURONEXT BEL-20 and NQPH go up and down completely randomly.
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Comparative Volatility

 Predicted Return Density 
      Returns 

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