Correlation Analysis Between NQFI and Hang Seng

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

NQFI  vs.  Hang Seng

 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, NQFI is expected to generate 0.99 times more return on investment than Hang Seng. However, NQFI is 1.01 times less risky than Hang Seng. It trades about 0.18 of its potential returns per unit of risk. Hang Seng is currently generating about -0.03 per unit of risk. If you would invest  154,544  in NQFI on August 21, 2018 and sell it today you would earn a total of  7,113  from holding NQFI or generate 4.6% return on investment over 30 days.

Pair Corralation between NQFI and Hang Seng

Time Period1 Month [change]
ValuesDaily Returns


Poor diversification

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

Comparative Volatility

 Predicted Return Density 

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