Correlation Analysis Between NQEGT and IPC

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

NQEGT  vs.  IPC

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, NQEGT is expected to generate 0.77 times more return on investment than IPC. However, NQEGT is 1.29 times less risky than IPC. It trades about -0.01 of its potential returns per unit of risk. IPC is currently generating about -0.16 per unit of risk. If you would invest  106,042  in NQEGT on November 13, 2018 and sell it today you would lose (967.00)  from holding NQEGT or give up 0.91% of portfolio value over 30 days.

Pair Corralation between NQEGT and IPC

0.31
Time Period2 Months [change]
DirectionPositive 
StrengthVery Weak
Accuracy95.45%
ValuesDaily Returns

Diversification

NQEGT diversification synergy

Weak diversification

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

 Predicted Return Density 
      Returns 

My Equities

My Current Equities and Potential Positions

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TGT - USA Stock
Target Corporation
Specialization
Consumer, Diversified Wholesale And Retail
RegionNorth America
ExchangeNew York Stock Exchange
$66.68

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