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.
Horizon     30 Days    Login   to change
Symbolsvs

BSE  vs.  NQEGT

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, BSE is expected to under-perform the NQEGT. But the index apears to be less risky and, when comparing its historical volatility, BSE is 1.24 times less risky than NQEGT. The index trades about -0.2 of its potential returns per unit of risk. The NQEGT is currently generating about -0.06 of returns per unit of risk over similar time horizon. If you would invest  112,396  in NQEGT on September 22, 2018 and sell it today you would lose (2,599)  from holding NQEGT or give up 2.31% of portfolio value over 30 days.

Pair Corralation between BSE and NQEGT

0.67
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy95.24%
ValuesDaily Returns

Diversification

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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Alphabet
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ExchangeNASDAQ
$1096.46

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