Correlation Analysis Between NQEGT and Nasdaq

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

NQEGT  vs.  Nasdaq

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, NQEGT is expected to generate 0.67 times more return on investment than Nasdaq. However, NQEGT is 1.48 times less risky than Nasdaq. It trades about 0.14 of its potential returns per unit of risk. Nasdaq is currently generating about -0.09 per unit of risk. If you would invest  106,042  in NQEGT on October 14, 2018 and sell it today you would earn a total of  3,953  from holding NQEGT or generate 3.73% return on investment over 30 days.

Pair Corralation between NQEGT and Nasdaq

0.61
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy95.45%
ValuesDaily Returns

Diversification

NQEGT diversification synergy

Poor diversification

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

 Predicted Return Density 
      Returns 

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1036.05

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