Pair Correlation Between NQEGT and DAX

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

NQEGT  vs.  DAX

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, NQEGT is expected to generate 0.84 times more return on investment than DAX. However, NQEGT is 1.19 times less risky than DAX. It trades about 0.46 of its potential returns per unit of risk. DAX is currently generating about 0.02 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 DAX

0.83
Time Period2 Months [change]
DirectionPositive 
StrengthStrong
Accuracy92.0%
ValuesDaily Returns

Diversification

Very poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

My Equities

My Current Equities and Potential Positions
View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1019.98

Thematic Opportunities

Explore Investment Opportunities
Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.