Correlation Analysis Between NQPH and Bursa Malaysia

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

NQPH  vs.  Bursa Malaysia

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, NQPH is expected to generate 1.28 times more return on investment than Bursa Malaysia. However, NQPH is 1.28 times more volatile than Bursa Malaysia. It trades about -0.09 of its potential returns per unit of risk. Bursa Malaysia is currently generating about -0.3 per unit of risk. If you would invest  97,866  in NQPH on September 23, 2018 and sell it today you would lose (1,703)  from holding NQPH or give up 1.74% of portfolio value over 30 days.

Pair Corralation between NQPH and Bursa Malaysia

0.72
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Poor diversification

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

 Predicted Return Density 
      Returns 

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