Correlation Analysis Between NQPH and DOW

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

NQPH  vs.  DOW

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, NQPH is expected to under-perform the DOW. But the index apears to be less risky and, when comparing its historical volatility, NQPH is 1.08 times less risky than DOW. The index trades about -0.24 of its potential returns per unit of risk. The DOW is currently generating about -0.12 of returns per unit of risk over similar time horizon. If you would invest  2,606,212  in DOW on September 16, 2018 and sell it today you would lose (72,213)  from holding DOW or give up 2.77% of portfolio value over 30 days.

Pair Corralation between NQPH and DOW

0.0
Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Pay attention

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

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