Pair Correlation Between NQEGT and XU100

This module allows you to analyze existing cross correlation between NQEGT and XU100. You can compare the effects of market volatilities on NQEGT and XU100 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 XU100. See also your portfolio center. Please also check ongoing floating volatility patterns of NQEGT and XU100.
 Time Horizon     30 Days    Login   to change
 NQEGT  vs   XU100
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, NQEGT is expected to generate 1.35 times more return on investment than XU100. However, NQEGT is 1.35 times more volatile than XU100. It trades about 0.56 of its potential returns per unit of risk. XU100 is currently generating about -0.01 per unit of risk. If you would invest  116,623  in NQEGT on February 22, 2018 and sell it today you would earn a total of  13,826  from holding NQEGT or generate 11.86% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between NQEGT and XU100


Time Period1 Month [change]
ValuesDaily Returns


Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding NQEGT and XU100 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on XU100 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 XU100. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of XU100 has no effect on the direction of NQEGT i.e. NQEGT and XU100 go up and down completely randomly.

Comparative Volatility

 Predicted Return Density