Correlation Analysis Between Hang Seng and NQEGT

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

Comparative Performance

 Predicted Return Density 

Hang Seng  vs.  NQEGT

 Performance (%) 

Pair Volatility

Given the investment horizon of 30 days, Hang Seng is expected to generate 73.29 times more return on investment than NQEGT. However, Hang Seng is 73.29 times more volatile than NQEGT. It trades about 0.15 of its potential returns per unit of risk. NQEGT is currently generating about 0.01 per unit of risk. If you would invest  2,614,391  in Hang Seng on November 18, 2018 and sell it today you would lose (30,599)  from holding Hang Seng or give up 1.17% of portfolio value over 30 days.

Pair Corralation between Hang Seng and NQEGT

Time Period2 Months [change]
ValuesDaily Returns

Diversification Opportunities for Hang Seng and NQEGT

Hang Seng diversification synergy

Average diversification

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

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