Pair Correlation Between Hang Seng and NQFI

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

Pair Volatility

If you would invest  2,815,497  in Hang Seng on October 24, 2017 and sell it today you would earn a total of  184,852  from holding Hang Seng or generate 6.57% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Hang Seng and NQFI
0.0

Parameters

Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy4.55%
ValuesDaily Returns

Diversification

Pay attention

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