Correlation Analysis Between NQFI and Madrid Gnrl

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

NQFI  vs.  Madrid Gnrl

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, NQFI is expected to generate 1.32 times more return on investment than Madrid Gnrl. However, NQFI is 1.32 times more volatile than Madrid Gnrl. It trades about 0.02 of its potential returns per unit of risk. Madrid Gnrl is currently generating about -0.03 per unit of risk. If you would invest  160,125  in NQFI on June 20, 2018 and sell it today you would earn a total of  402.00  from holding NQFI or generate 0.25% return on investment over 30 days.

Pair Corralation between NQFI and Madrid Gnrl

0.61
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Poor diversification

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

 Predicted Return Density 
      Returns 

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See also your portfolio center. Please also try Coins and Tokens Correlation module to utilize digital token correlation table to build portfolio of cryptocurrencies across multiple exchanges.


 
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