Correlation Analysis Between NQFI and IBEX 35

This module allows you to analyze existing cross correlation between NQFI and IBEX 35. You can compare the effects of market volatilities on NQFI and IBEX 35 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 IBEX 35. See also your portfolio center. Please also check ongoing floating volatility patterns of NQFI and IBEX 35.
Horizon     30 Days    Login   to change

NQFI  vs.  IBEX 35

 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, NQFI is expected to under-perform the IBEX 35. In addition to that, NQFI is 1.04 times more volatile than IBEX 35. It trades about -0.13 of its total potential returns per unit of risk. IBEX 35 is currently generating about -0.03 per unit of volatility. If you would invest  890,200  in IBEX 35 on November 11, 2018 and sell it today you would lose (16,650)  from holding IBEX 35 or give up 1.87% of portfolio value over 30 days.

Pair Corralation between NQFI and IBEX 35

Time Period2 Months [change]
StrengthVery Weak
ValuesDaily Returns


NQFI diversification synergy

Weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding NQFI and IBEX 35 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on IBEX 35 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 IBEX 35. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of IBEX 35 has no effect on the direction of NQFI i.e. NQFI and IBEX 35 go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 

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See also your portfolio center. Please also try Bollinger Bands module to use bollinger bands indicator to analyze target price for a given investing horizon.