Pair Correlation Between NQPH and Nasdaq

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

Pair Volatility

Assuming 30 trading days horizon, NQPH is expected to generate 1.42 times more return on investment than Nasdaq. However, NQPH is 1.42 times more volatile than Nasdaq. It trades about 0.31 of its potential returns per unit of risk. Nasdaq is currently generating about 0.38 per unit of risk. If you would invest  120,187  in NQPH on December 17, 2017 and sell it today you would earn a total of  6,234  from holding NQPH or generate 5.19% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between NQPH and Nasdaq


Time Period1 Month [change]
ValuesDaily Returns


Very poor diversification

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

Comparative Volatility

 Predicted Return Density