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
Check Efficiency

Comparative Performance

 Predicted Return Density 

NQPH  vs.  CAC 40

 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, NQPH is expected to generate 0.98 times more return on investment than CAC 40. However, NQPH is 1.02 times less risky than CAC 40. It trades about 0.02 of its potential returns per unit of risk. CAC 40 is currently generating about 0.01 per unit of risk. If you would invest  110,531  in NQPH on September 21, 2019 and sell it today you would earn a total of  490.00  from holding NQPH or generate 0.44% return on investment over 30 days.

Pair Corralation between NQPH and CAC 40

Time Period3 Months [change]
ValuesDaily Returns

Diversification Opportunities for NQPH and CAC 40

NQPH diversification synergy

Very 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.
See also your portfolio center. Please also try ETF Directory module to find actively-traded exchange traded funds (etf) from around the world.