Correlation Analysis Between NQPH and AEX Amsterdam

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

NQPH  vs.  AEX Amsterdam

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, NQPH is expected to under-perform the AEX Amsterdam. But the index apears to be less risky and, when comparing its historical volatility, NQPH is 1.17 times less risky than AEX Amsterdam. The index trades about -0.24 of its potential returns per unit of risk. The AEX Amsterdam is currently generating about -0.17 of returns per unit of risk over similar time horizon. If you would invest  54,053  in AEX Amsterdam on September 16, 2018 and sell it today you would lose (2,217)  from holding AEX Amsterdam or give up 4.1% of portfolio value over 30 days.

Pair Corralation between NQPH and AEX Amsterdam

0.62
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 NQPH and AEX Amsterdam in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on AEX Amsterdam and NQPH 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 NQPH are associated (or correlated) with AEX Amsterdam. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AEX Amsterdam has no effect on the direction of NQPH i.e. NQPH and AEX Amsterdam go up and down completely randomly.
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Comparative Volatility

 Predicted Return Density 
      Returns 

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GOOG - USA Stock
Alphabet
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IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1110.08

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