Correlation Analysis Between NQPH and CAC 40

This module allows you to analyze existing cross correlation between NQPH and CAC 40. You can compare the effects of market volatilities on NQPH and CAC 40 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 CAC 40. See also your portfolio center. Please also check ongoing floating volatility patterns of NQPH and CAC 40.
Horizon     30 Days    Login   to change
Symbolsvs

NQPH  vs.  CAC 40

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, NQPH is expected to under-perform the CAC 40. In addition to that, NQPH is 1.14 times more volatile than CAC 40. It trades about -0.02 of its total potential returns per unit of risk. CAC 40 is currently generating about -0.01 per unit of volatility. If you would invest  508,559  in CAC 40 on October 14, 2018 and sell it today you would lose (2,249)  from holding CAC 40 or give up 0.44% of portfolio value over 30 days.

Pair Corralation between NQPH and CAC 40

-0.09
Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

NQPH diversification synergy

Good diversification

Overlapping area represents the amount of risk that can be diversified away by holding NQPH and CAC 40 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on CAC 40 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 CAC 40. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CAC 40 has no effect on the direction of NQPH i.e. NQPH and CAC 40 go up and down completely randomly.
    Optimize

Comparative Volatility

 Predicted Return Density 
      Returns 

My Equities

My Current Equities and Potential Positions

View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1053.37

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.


 
Search macroaxis.com