Pair Correlation Between NQEGT and ATX

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

NQEGT  vs.  ATX

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, NQEGT is expected to generate 0.99 times more return on investment than ATX. However, NQEGT is 1.01 times less risky than ATX. It trades about 0.47 of its potential returns per unit of risk. ATX is currently generating about 0.07 per unit of risk. If you would invest  116,623  in NQEGT on March 26, 2018 and sell it today you would earn a total of  23,080  from holding NQEGT or generate 19.79% return on investment over 30 days.

Pair Corralation between NQEGT and ATX

0.92
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy91.84%
ValuesDaily Returns

Diversification

Almost no diversification

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

 Predicted Return Density 
      Returns 

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Alphabet
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IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1072.96

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