Correlation Analysis Between NQFI and NIKKEI 225

This module allows you to analyze existing cross correlation between NQFI and NIKKEI 225. You can compare the effects of market volatilities on NQFI and NIKKEI 225 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 NIKKEI 225. See also your portfolio center. Please also check ongoing floating volatility patterns of NQFI and NIKKEI 225.
Horizon     30 Days    Login   to change
Symbolsvs
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Comparative Performance

 Predicted Return Density 
      Returns 

NQFI  vs.  NIKKEI 225

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, NQFI is expected to generate 0.91 times more return on investment than NIKKEI 225. However, NQFI is 1.1 times less risky than NIKKEI 225. It trades about -0.08 of its potential returns per unit of risk. NIKKEI 225 is currently generating about -0.07 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 NIKKEI 225

0.44
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy80.0%
ValuesDaily Returns

Diversification Opportunities for NQFI and NIKKEI 225

NQFI diversification synergy

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding NQFI and NIKKEI 225 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NIKKEI 225 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 NIKKEI 225. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NIKKEI 225 has no effect on the direction of NQFI i.e. NQFI and NIKKEI 225 go up and down completely randomly.
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