Correlation Analysis Between Greece TR and NQPH

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

Greece TR  vs.  NQPH

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Greece TR is expected to generate 4.29 times less return on investment than NQPH. In addition to that, Greece TR is 1.41 times more volatile than NQPH. It trades about 0.03 of its total potential returns per unit of risk. NQPH is currently generating about 0.18 per unit of volatility. If you would invest  93,134  in NQPH on November 13, 2018 and sell it today you would earn a total of  9,299  from holding NQPH or generate 9.98% return on investment over 30 days.

Pair Corralation between Greece TR and NQPH

-0.18
Time Period2 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Greece TR diversification synergy

Good diversification

Overlapping area represents the amount of risk that can be diversified away by holding Greece TR and NQPH in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NQPH and Greece TR 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 Greece TR 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 Greece TR i.e. Greece TR and NQPH go up and down completely randomly.
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Comparative Volatility

 Predicted Return Density 
      Returns 

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