Correlation Analysis Between IBEX 35 and NQFI

This module allows you to analyze existing cross correlation between IBEX 35 and NQFI. You can compare the effects of market volatilities on IBEX 35 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 IBEX 35 with a short position of NQFI. See also your portfolio center. Please also check ongoing floating volatility patterns of IBEX 35 and NQFI.
Horizon     30 Days    Login   to change
Symbolsvs

IBEX 35  vs.  NQFI

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, IBEX 35 is expected to generate 3.02 times less return on investment than NQFI. But when comparing it to its historical volatility, IBEX 35 is 1.4 times less risky than NQFI. It trades about 0.1 of its potential returns per unit of risk. NQFI is currently generating about 0.21 of returns per unit of risk over similar time horizon. If you would invest  154,544  in NQFI on August 21, 2018 and sell it today you would earn a total of  8,538  from holding NQFI or generate 5.52% return on investment over 30 days.

Pair Corralation between IBEX 35 and NQFI

0.0
Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding IBEX 35 and NQFI in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NQFI and IBEX 35 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 IBEX 35 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 IBEX 35 i.e. IBEX 35 and NQFI go up and down completely randomly.
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Comparative Volatility

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