Correlation Analysis Between IPC and NQPH

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

IPC  vs.  NQPH

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, IPC is expected to under-perform the NQPH. In addition to that, IPC is 1.84 times more volatile than NQPH. It trades about -0.3 of its total potential returns per unit of risk. NQPH is currently generating about 0.07 per unit of volatility. If you would invest  94,532  in NQPH on October 17, 2018 and sell it today you would earn a total of  1,637  from holding NQPH or generate 1.73% return on investment over 30 days.

Pair Corralation between IPC and NQPH

0.48
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy91.3%
ValuesDaily Returns

Diversification

IPC diversification synergy

Very weak diversification

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

 Predicted Return Density 
      Returns 

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