Correlation Analysis Between DOW and NQEGT

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

DOW  vs.  NQEGT

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, DOW is expected to generate 0.79 times more return on investment than NQEGT. However, DOW is 1.26 times less risky than NQEGT. It trades about 0.1 of its potential returns per unit of risk. NQEGT is currently generating about -0.28 per unit of risk. If you would invest  2,465,780  in DOW on June 20, 2018 and sell it today you would earn a total of  40,670  from holding DOW or generate 1.65% return on investment over 30 days.

Pair Corralation between DOW and NQEGT

0.81
Time Period1 Month [change]
DirectionPositive 
StrengthStrong
Accuracy79.31%
ValuesDaily Returns

Diversification

Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding DOW and NQEGT in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NQEGT and DOW 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 DOW 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 DOW i.e. DOW and NQEGT go up and down completely randomly.
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Comparative Volatility

 Predicted Return Density 
      Returns 

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