Pair Correlation Between NQFI and Greece TR

This module allows you to analyze existing cross correlation between NQFI and Greece TR. You can compare the effects of market volatilities on NQFI and Greece TR 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 Greece TR. See also your portfolio center. Please also check ongoing floating volatility patterns of NQFI and Greece TR.
Investment Horizon     30 Days    Login   to change
 NQFI  vs   Greece TR
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, NQFI is expected to under-perform the Greece TR. But the index apears to be less risky and, when comparing its historical volatility, NQFI is 1.5 times less risky than Greece TR. The index trades about -0.24 of its potential returns per unit of risk. The Greece TR is currently generating about -0.06 of returns per unit of risk over similar time horizon. If you would invest  50,324  in Greece TR on October 23, 2017 and sell it today you would lose (1,001)  from holding Greece TR or give up 1.99% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between NQFI and Greece TR


Time Period1 Month [change]
ValuesDaily Returns


Very weak diversification

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

Comparative Volatility

 Predicted Return Density