Correlation Analysis Between NQFI and Russell 2000

This module allows you to analyze existing cross correlation between NQFI and Russell 2000 . You can compare the effects of market volatilities on NQFI and Russell 2000 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 Russell 2000. See also your portfolio center. Please also check ongoing floating volatility patterns of NQFI and Russell 2000.
Horizon     30 Days    Login   to change

NQFI  vs.  Russell 2000

 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, NQFI is expected to generate 0.76 times more return on investment than Russell 2000. However, NQFI is 1.31 times less risky than Russell 2000. It trades about -0.13 of its potential returns per unit of risk. Russell 2000 is currently generating about -0.1 per unit of risk. If you would invest  148,316  in NQFI on November 10, 2018 and sell it today you would lose (9,853)  from holding NQFI or give up 6.64% of portfolio value over 30 days.

Pair Corralation between NQFI and Russell 2000

Time Period2 Months [change]
ValuesDaily Returns


NQFI diversification synergy

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding NQFI and Russell 2000 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Russell 2000 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 Russell 2000. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Russell 2000 has no effect on the direction of NQFI i.e. NQFI and Russell 2000 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.