Correlation Analysis Between NQFI and ISEQ

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

 Predicted Return Density 
      Returns 

NQFI  vs.  ISEQ

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, NQFI is expected to generate 0.95 times more return on investment than ISEQ. However, NQFI is 1.05 times less risky than ISEQ. It trades about -0.08 of its potential returns per unit of risk. ISEQ is currently generating about -0.15 per unit of risk. If you would invest  149,099  in NQFI on November 14, 2018 and sell it today you would lose (7,433)  from holding NQFI or give up 4.99% of portfolio value over 30 days.

Pair Corralation between NQFI and ISEQ

0.87
Time Period2 Months [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for NQFI and ISEQ

NQFI diversification synergy

Very poor diversification

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