Correlation Analysis Between NQEGT and NQPH

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

NQEGT  vs.  NQPH

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, NQEGT is expected to generate 0.74 times more return on investment than NQPH. However, NQEGT is 1.36 times less risky than NQPH. It trades about -0.02 of its potential returns per unit of risk. NQPH is currently generating about -0.24 per unit of risk. If you would invest  128,349  in NQEGT on May 23, 2018 and sell it today you would lose (690.54)  from holding NQEGT or give up 0.54% of portfolio value over 30 days.

Pair Corralation between NQEGT and NQPH

0.0
Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Pay attention

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

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See also your portfolio center. Please also try Coins and Tokens Correlation module to utilize digital token correlation table to build portfolio of cryptocurrencies across multiple exchanges.