Correlation Analysis Between NQPH and BSE

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

NQPH  vs.  BSE

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, NQPH is expected to generate 1.89 times less return on investment than BSE. In addition to that, NQPH is 2.38 times more volatile than BSE. It trades about 0.09 of its total potential returns per unit of risk. BSE is currently generating about 0.42 per unit of volatility. If you would invest  3,637,344  in BSE on July 18, 2018 and sell it today you would earn a total of  158,282  from holding BSE or generate 4.35% return on investment over 30 days.

Pair Corralation between NQPH and BSE

0.58
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy91.3%
ValuesDaily Returns

Diversification

Very weak diversification

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

 Predicted Return Density 
      Returns 

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