Pair Correlation Between NQPH and DAX

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

Pair Volatility

Assuming 30 trading days horizon, NQPH is expected to under-perform the DAX. But the index apears to be less risky and, when comparing its historical volatility, NQPH is 1.21 times less risky than DAX. The index trades about -0.24 of its potential returns per unit of risk. The DAX is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest  1,234,617  in DAX on February 15, 2018 and sell it today you would earn a total of  4,341  from holding DAX or generate 0.35% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between NQPH and DAX


Time Period1 Month [change]
StrengthVery Strong
ValuesDaily Returns


No risk reduction

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

Comparative Volatility

 Predicted Return Density