This module allows you to analyze existing cross correlation between NQFI and NQPH. You can compare the effects of market volatilities on NQFI and NQPH 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 NQPH. See also your portfolio center
. Please also check ongoing floating volatility patterns of NQFI
NQFI vs. NQPH
Assuming 30 trading days horizon, NQFI is expected to generate 2.37 times less return on investment than NQPH. But when comparing it to its historical volatility, NQFI is 1.12 times less risky than NQPH. It trades about 0.07 of its potential returns per unit of risk. NQPH is currently generating about 0.16 of returns per unit of risk over similar time horizon. If you would invest 95,211 in NQPH on June 21, 2018 and sell it today you would earn a total of 3,558 from holding NQPH or generate 3.74% return on investment over 30 days.
Pair Corralation between NQFI and NQPH
|Time Period||1 Month [change]|
Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding NQFI and NQPH in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NQPH 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 NQPH. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NQPH has no effect on the direction of NQFI i.e. NQFI and NQPH go up and down completely randomly.
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