Correlation Analysis Between NQFI and Bovespa

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

NQFI  vs.  Bovespa

 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  7,064,100  in Bovespa on May 24, 2018 and sell it today you would earn a total of  0.00  from holding Bovespa or generate 0.0% return on investment over 30 days.

Pair Corralation between NQFI and Bovespa

0.0
Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Pay attention

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

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See also your portfolio center. Please also try Aroon Oscillator module to analyze current equity momentum using aroon oscillator and other momentum ratios.