Correlation Analysis Between NQEGT and Greece TR

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

NQEGT  vs.  Greece TR

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, NQEGT is expected to under-perform the Greece TR. But the index apears to be less risky and, when comparing its historical volatility, NQEGT is 1.25 times less risky than Greece TR. The index trades about -0.03 of its potential returns per unit of risk. The Greece TR is currently generating about -0.01 of returns per unit of risk over similar time horizon. If you would invest  42,308  in Greece TR on November 12, 2018 and sell it today you would lose (513.00)  from holding Greece TR or give up 1.21% of portfolio value over 30 days.

Pair Corralation between NQEGT and Greece TR

-0.41
Time Period2 Months [change]
DirectionNegative 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

NQEGT diversification synergy

Very good diversification

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

 Predicted Return Density 
      Returns 

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