This module allows you to analyze existing cross correlation between NQEGT and NQFI. You can compare the effects of market volatilities on NQEGT and NQFI 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 NQFI. See also your portfolio center
. Please also check ongoing floating volatility patterns of NQEGT
NQEGT vs. NQFI
Assuming 30 trading days horizon, NQEGT is expected to generate 1.14 times more return on investment than NQFI. However, NQEGT is 1.14 times more volatile than NQFI. It trades about 0.49 of its potential returns per unit of risk. NQFI is currently generating about -0.08 per unit of risk. If you would invest 116,959 in NQEGT on March 28, 2018 and sell it today you would earn a total of 25,659 from holding NQEGT or generate 21.94% return on investment over 30 days.
Pair Corralation between NQEGT and NQFI
|Time Period||2 Months [change]|
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding NQEGT and NQFI in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NQFI 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 NQFI. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NQFI has no effect on the direction of NQEGT i.e. NQEGT and NQFI go up and down completely randomly.
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