Correlation Analysis Between ISEQ and NQEGT

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

ISEQ  vs.  NQEGT

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, ISEQ is expected to generate 0.49 times more return on investment than NQEGT. However, ISEQ is 2.03 times less risky than NQEGT. It trades about -0.14 of its potential returns per unit of risk. NQEGT is currently generating about -0.12 per unit of risk. If you would invest  718,125  in ISEQ on May 21, 2018 and sell it today you would lose (11,749)  from holding ISEQ or give up 1.64% of portfolio value over 30 days.

Pair Corralation between ISEQ and NQEGT

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 ISEQ and NQEGT in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NQEGT and ISEQ 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 ISEQ 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 ISEQ i.e. ISEQ and NQEGT go up and down completely randomly.
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Comparative Volatility

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See also your portfolio center. Please also try Piotroski F Score module to get piotroski f score based on binary analysis strategy of nine different fundamentals.