Correlation Analysis Between NQEGT and CAC 40

This module allows you to analyze existing cross correlation between NQEGT and CAC 40. You can compare the effects of market volatilities on NQEGT and CAC 40 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 CAC 40. See also your portfolio center. Please also check ongoing floating volatility patterns of NQEGT and CAC 40.
Horizon     30 Days    Login   to change
Symbolsvs

NQEGT  vs.  CAC 40

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, NQEGT is expected to generate 0.83 times more return on investment than CAC 40. However, NQEGT is 1.21 times less risky than CAC 40. It trades about 0.07 of its potential returns per unit of risk. CAC 40 is currently generating about -0.07 per unit of risk. If you would invest  109,783  in NQEGT on October 18, 2018 and sell it today you would earn a total of  1,324  from holding NQEGT or generate 1.21% return on investment over 30 days.

Pair Corralation between NQEGT and CAC 40

0.49
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy95.65%
ValuesDaily Returns

Diversification

NQEGT diversification synergy

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding NQEGT and CAC 40 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on CAC 40 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 CAC 40. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CAC 40 has no effect on the direction of NQEGT i.e. NQEGT and CAC 40 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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ExchangeNASDAQ
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