Correlation Analysis Between NASDAQ UK and NQEGT

This module allows you to analyze existing cross correlation between NASDAQ UK and NQEGT. You can compare the effects of market volatilities on NASDAQ UK and NQEGT 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 NASDAQ UK with a short position of NQEGT. See also your portfolio center. Please also check ongoing floating volatility patterns of NASDAQ UK and NQEGT.
Horizon     30 Days    Login   to change
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Comparative Performance

 Predicted Return Density 
      Returns 

NASDAQ UK  vs.  NQEGT

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, NASDAQ UK is expected to generate 0.56 times more return on investment than NQEGT. However, NASDAQ UK is 1.78 times less risky than NQEGT. It trades about 0.05 of its potential returns per unit of risk. NQEGT is currently generating about -0.02 per unit of risk. If you would invest  96,412  in NASDAQ UK on September 14, 2019 and sell it today you would earn a total of  2,243  from holding NASDAQ UK or generate 2.33% return on investment over 30 days.

Pair Corralation between NASDAQ UK and NQEGT

0.01
Time Period3 Months [change]
DirectionPositive 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for NASDAQ UK and NQEGT

NASDAQ UK diversification synergy

Significant diversification

Overlapping area represents the amount of risk that can be diversified away by holding NASDAQ UK and NQEGT in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NQEGT and NASDAQ UK 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 NASDAQ UK are associated (or correlated) with NQEGT. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NQEGT has no effect on the direction of NASDAQ UK i.e. NASDAQ UK and NQEGT go up and down completely randomly.
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See also your portfolio center. Please also try Volatility Analysis module to get historical volatility and risk analysis based on latest market data.


 
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