Correlation Analysis Between NQFI and SP 500

This module allows you to analyze existing cross correlation between NQFI and S&P 500. You can compare the effects of market volatilities on NQFI and SP 500 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 SP 500. See also your portfolio center. Please also check ongoing floating volatility patterns of NQFI and SP 500.
Horizon     30 Days    Login   to change
Symbolsvs
Compare Efficiency

Comparative Performance

 Predicted Return Density 
      Returns 

NQFI  vs.  S&P 500

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, NQFI is expected to generate 0.99 times more return on investment than SP 500. However, NQFI is 1.01 times less risky than SP 500. It trades about -0.08 of its potential returns per unit of risk. S&P 500 is currently generating about -0.08 per unit of risk. If you would invest  149,099  in NQFI on November 14, 2018 and sell it today you would lose (7,322)  from holding NQFI or give up 4.91% of portfolio value over 30 days.

Pair Corralation between NQFI and SP 500

0.49
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy95.56%
ValuesDaily Returns

Diversification Opportunities for NQFI and SP 500

NQFI diversification synergy

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding NQFI and S&P 500 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on SP 500 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 SP 500. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SP 500 has no effect on the direction of NQFI i.e. NQFI and SP 500 go up and down completely randomly.
    Optimize

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Headlines Timeline module to stay connected to all market stories and filter out noise. drill down to analyze hype elasticity.


 
Search macroaxis.com