Pair Correlation Between DAX and NQTH

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

Pair Volatility

Assuming 30 trading days horizon, DAX is expected to under-perform the NQTH. In addition to that, DAX is 1.53 times more volatile than NQTH. It trades about -0.35 of its total potential returns per unit of risk. NQTH is currently generating about -0.06 per unit of volatility. If you would invest  125,723  in NQTH on January 23, 2018 and sell it today you would lose (1,228)  from holding NQTH or give up 0.98% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between DAX and NQTH


Time Period1 Month [change]
ValuesDaily Returns


Poor diversification

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

Comparative Volatility

 Predicted Return Density