Correlation Analysis Between NQEGT and ISEQ

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

NQEGT  vs.  ISEQ

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, NQEGT is expected to under-perform the ISEQ. In addition to that, NQEGT is 2.93 times more volatile than ISEQ. It trades about -0.22 of its total potential returns per unit of risk. ISEQ is currently generating about 0.03 per unit of volatility. If you would invest  669,859  in ISEQ on August 21, 2018 and sell it today you would earn a total of  2,537  from holding ISEQ or generate 0.38% return on investment over 30 days.

Pair Corralation between NQEGT and ISEQ

0.03
Time Period1 Month [change]
DirectionPositive 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Significant diversification

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

 Predicted Return Density 
      Returns 

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