Correlation Analysis Between ISEQ and NQPH

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

ISEQ  vs.  NQPH

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, ISEQ is expected to under-perform the NQPH. In addition to that, ISEQ is 1.13 times more volatile than NQPH. It trades about -0.17 of its total potential returns per unit of risk. NQPH is currently generating about 0.17 per unit of volatility. If you would invest  91,401  in NQPH on November 10, 2018 and sell it today you would earn a total of  8,264  from holding NQPH or generate 9.04% return on investment over 30 days.

Pair Corralation between ISEQ and NQPH

-0.78
Time Period2 Months [change]
DirectionNegative 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

ISEQ diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding ISEQ and NQPH in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NQPH 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 NQPH. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NQPH has no effect on the direction of ISEQ i.e. ISEQ and NQPH go up and down completely randomly.
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Comparative Volatility

 Predicted Return Density 
      Returns 

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GOOG - USA Stock
Alphabet
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IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1038.25

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