Correlation Analysis Between Nasdaq and NQPH

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

Nasdaq  vs.  NQPH

 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Nasdaq is expected to under-perform the NQPH. In addition to that, Nasdaq is 1.45 times more volatile than NQPH. It trades about -0.07 of its total potential returns per unit of risk. NQPH is currently generating about 0.05 per unit of volatility. If you would invest  95,031  in NQPH on October 18, 2018 and sell it today you would earn a total of  1,058  from holding NQPH or generate 1.11% return on investment over 30 days.

Pair Corralation between Nasdaq and NQPH

Time Period1 Month [change]
StrengthVery Weak
ValuesDaily Returns


Nasdaq diversification synergy

Weak diversification

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

Comparative Volatility

 Predicted Return Density 

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