- Companies in United States
- Peer Analysis
This module allows you to analyze existing cross correlation between Nasdaq and NQFI. You can compare the effects of market volatilities on Nasdaq 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 Nasdaq with a short position of NQFI. See also your portfolio center. Please also check ongoing floating volatility patterns of Nasdaq and NQFI.
|Horizon||30 Days Login to change|
Predicted Return Density
Nasdaq vs. NQFI
Assuming 30 trading days horizon, Nasdaq is expected to under-perform the NQFI. In addition to that, Nasdaq is 1.36 times more volatile than NQFI. It trades about -0.07 of its total potential returns per unit of risk. NQFI is currently generating about -0.07 per unit of volatility. If you would invest 149,099 in NQFI on November 13, 2018 and sell it today you would lose (6,791) from holding NQFI or give up 4.55% of portfolio value over 30 days.
Pair Corralation between Nasdaq and NQFI
|Time Period||2 Months [change]|
Diversification Opportunities for Nasdaq and NQFI
Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding Nasdaq and NQFI in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NQFI and Nasdaq 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 Nasdaq 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 Nasdaq i.e. Nasdaq and NQFI go up and down completely randomly.