Correlation Analysis Between NQEGT and FTSE MIB

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

NQEGT  vs.  FTSE MIB

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, NQEGT is expected to generate 0.02 times more return on investment than FTSE MIB. However, NQEGT is 41.03 times less risky than FTSE MIB. It trades about 0.01 of its potential returns per unit of risk. FTSE MIB is currently generating about -0.71 per unit of risk. If you would invest  127,637  in NQEGT on May 20, 2018 and sell it today you would earn a total of  0.00  from holding NQEGT or generate 0.0% return on investment over 30 days.

Pair Corralation between NQEGT and FTSE MIB

-0.75
Time Period1 Month [change]
DirectionNegative 
StrengthWeak
Accuracy0.52%
ValuesDaily Returns

Diversification

Pay attention

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

 Predicted Return Density 
      Returns 

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