Correlation Analysis Between BSE and NQFI

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

BSE  vs.  NQFI

 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, BSE is expected to generate 1.1 times more return on investment than NQFI. However, BSE is 1.1 times more volatile than NQFI. It trades about -0.24 of its potential returns per unit of risk. NQFI is currently generating about -0.3 per unit of risk. If you would invest  3,684,160  in BSE on September 20, 2018 and sell it today you would lose (252,597)  from holding BSE or give up 6.86% of portfolio value over 30 days.

Pair Corralation between BSE and NQFI

Time Period1 Month [change]
ValuesDaily Returns


Very poor diversification

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

Comparative Volatility

 Predicted Return Density 

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