This module allows you to analyze existing cross correlation between NQFI and Straits Tms. You can compare the effects of market volatilities on NQFI and Straits Tms 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 Straits Tms. See also your portfolio center. Please also check ongoing floating volatility patterns of NQFI and Straits Tms.
|Horizon||30 Days Login to change|
Predicted Return Density
NQFI vs. Straits Tms
Assuming 30 trading days horizon, NQFI is expected to generate 1.86 times more return on investment than Straits Tms. However, NQFI is 1.86 times more volatile than Straits Tms. It trades about 0.02 of its potential returns per unit of risk. Straits Tms is currently generating about -0.18 per unit of risk. If you would invest 143,064 in NQFI on September 16, 2019 and sell it today you would earn a total of 993.00 from holding NQFI or generate 0.69% return on investment over 30 days.
Pair Corralation between NQFI and Straits Tms
|Time Period||3 Months [change]|
Diversification Opportunities for NQFI and Straits Tms
Overlapping area represents the amount of risk that can be diversified away by holding NQFI and Straits Tms in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Straits Tms 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 Straits Tms. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Straits Tms has no effect on the direction of NQFI i.e. NQFI and Straits Tms go up and down completely randomly.
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.