Correlation Analysis Between NQPH and ISEQ

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

 Predicted Return Density 
      Returns 

NQPH  vs.  ISEQ

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, NQPH is expected to generate 3.02 times less return on investment than ISEQ. But when comparing it to its historical volatility, NQPH is 1.3 times less risky than ISEQ. It trades about 0.01 of its potential returns per unit of risk. ISEQ is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest  638,036  in ISEQ on September 14, 2019 and sell it today you would earn a total of  6,823  from holding ISEQ or generate 1.07% return on investment over 30 days.

Pair Corralation between NQPH and ISEQ

-0.25
Time Period3 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy52.31%
ValuesDaily Returns

Diversification Opportunities for NQPH and ISEQ

NQPH diversification synergy

Very good diversification

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