Correlation Analysis 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
Symbolsvs

NQPH  vs.  Nasdaq

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, NQPH is expected to generate 1.44 times more return on investment than Nasdaq. However, NQPH is 1.44 times more volatile than Nasdaq. It trades about 0.24 of its potential returns per unit of risk. Nasdaq is currently generating about 0.19 per unit of risk. If you would invest  93,803  in NQPH on June 23, 2018 and sell it today you would earn a total of  4,966  from holding NQPH or generate 5.29% return on investment over 30 days.

Pair Corralation between NQPH and Nasdaq

-0.62
Time Period1 Month [change]
DirectionNegative 
StrengthWeak
Accuracy75.0%
ValuesDaily Returns

Diversification

Excellent 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.
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Comparative Volatility

 Predicted Return Density 
      Returns 

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1184.91

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