This module allows you to analyze existing cross correlation between Nasdaq and NQTH. You can compare the effects of market volatilities on Nasdaq and NQTH 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 NQTH. See also your portfolio center
. Please also check ongoing floating volatility patterns of Nasdaq
Nasdaq vs. NQTH
Assuming 30 trading days horizon, Nasdaq is expected to generate 2.14 times more return on investment than NQTH. However, Nasdaq is 2.14 times more volatile than NQTH. It trades about -0.04 of its potential returns per unit of risk. NQTH is currently generating about -0.11 per unit of risk. If you would invest 742,146 in Nasdaq on March 28, 2018 and sell it today you would lose (30,278) from holding Nasdaq or give up 4.08% of portfolio value over 30 days.
Pair Corralation between Nasdaq and NQTH
|Time Period||2 Months [change]|
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding Nasdaq and NQTH in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NQTH 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 NQTH. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NQTH has no effect on the direction of Nasdaq i.e. Nasdaq and NQTH go up and down completely randomly.
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