Correlation Analysis Between NQFI and ATX

This module allows you to analyze existing cross correlation between NQFI and ATX. You can compare the effects of market volatilities on NQFI and ATX 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 NQFI with a short position of ATX. See also your portfolio center. Please also check ongoing floating volatility patterns of NQFI and ATX.
Horizon     30 Days    Login   to change
Symbolsvs
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Comparative Performance

 Predicted Return Density 
      Returns 

NQFI  vs.  ATX

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, NQFI is expected to generate 1.33 times more return on investment than ATX. However, NQFI is 1.33 times more volatile than ATX. It trades about 0.06 of its potential returns per unit of risk. ATX is currently generating about 0.02 per unit of risk. If you would invest  143,064  in NQFI on September 18, 2019 and sell it today you would earn a total of  3,394  from holding NQFI or generate 2.37% return on investment over 30 days.

Pair Corralation between NQFI and ATX

-0.33
Time Period3 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy66.67%
ValuesDaily Returns

Diversification Opportunities for NQFI and ATX

NQFI diversification synergy

Very good diversification

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