Pair Correlation Between NQEGT and Madrid Gnrl

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

NQEGT  vs.  Madrid Gnrl

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, NQEGT is expected to generate 1.16 times more return on investment than Madrid Gnrl. However, NQEGT is 1.16 times more volatile than Madrid Gnrl. It trades about 0.45 of its potential returns per unit of risk. Madrid Gnrl is currently generating about 0.02 per unit of risk. If you would invest  116,623  in NQEGT on March 25, 2018 and sell it today you would earn a total of  21,888  from holding NQEGT or generate 18.77% return on investment over 30 days.

Pair Corralation between NQEGT and Madrid Gnrl

-0.38
Time Period2 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy88.89%
ValuesDaily Returns

Diversification

Very good diversification

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

 Predicted Return Density 
      Returns 

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Alphabet
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See also your portfolio center. Please also try Chance of Distress module to get analysis of equity chance of financial distress in the next 2 years.