Correlation Analysis Between BSE and NQEGT

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

BSE  vs.  NQEGT

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, BSE is expected to generate 0.79 times more return on investment than NQEGT. However, BSE is 1.26 times less risky than NQEGT. It trades about 0.14 of its potential returns per unit of risk. NQEGT is currently generating about -0.25 per unit of risk. If you would invest  3,554,826  in BSE on June 16, 2018 and sell it today you would earn a total of  77,551  from holding BSE or generate 2.18% return on investment over 30 days.

Pair Corralation between BSE and NQEGT

0.82
Time Period1 Month [change]
DirectionPositive 
StrengthStrong
Accuracy78.57%
ValuesDaily Returns

Diversification

Very poor diversification

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

 Predicted Return Density 
      Returns 

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See also your portfolio center. Please also try Volatility Analysis module to get historical volatility and risk analysis based on latest market data.