Correlation Analysis Between NQEGT and Stockholm

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

NQEGT  vs.  Stockholm

 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, NQEGT is expected to generate 1.23 times more return on investment than Stockholm. However, NQEGT is 1.23 times more volatile than Stockholm. It trades about -0.01 of its potential returns per unit of risk. Stockholm is currently generating about -0.04 per unit of risk. If you would invest  106,042  in NQEGT on November 13, 2018 and sell it today you would lose (973.00)  from holding NQEGT or give up 0.92% of portfolio value over 30 days.

Pair Corralation between NQEGT and Stockholm

Time Period2 Months [change]
StrengthVery Weak
ValuesDaily Returns


NQEGT diversification synergy

Weak diversification

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

Comparative Volatility

 Predicted Return Density 

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See also your portfolio center. Please also try Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.