Pair Correlation Between SP 500 and NQEGT

This module allows you to analyze existing cross correlation between S&P 500 and NQEGT. You can compare the effects of market volatilities on SP 500 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 SP 500 with a short position of NQEGT. See also your portfolio center. Please also check ongoing floating volatility patterns of SP 500 and NQEGT.
 Time Horizon     30 Days    Login   to change
 S&P 500  vs   NQEGT
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, S&P 500 is expected to under-perform the NQEGT. But the index apears to be less risky and, when comparing its historical volatility, S&P 500 is 1.1 times less risky than NQEGT. The index trades about 0.0 of its potential returns per unit of risk. The NQEGT is currently generating about 0.66 of returns per unit of risk over similar time horizon. If you would invest  115,493  in NQEGT on February 18, 2018 and sell it today you would earn a total of  15,761  from holding NQEGT or generate 13.65% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between SP 500 and NQEGT


Time Period1 Month [change]
ValuesDaily Returns


Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding S&P 500 and NQEGT in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NQEGT and SP 500 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 S&P 500 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 SP 500 i.e. SP 500 and NQEGT go up and down completely randomly.

Comparative Volatility

 Predicted Return Density