Correlation Analysis Between NQPH and Seoul Comp

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

Comparative Performance

 Predicted Return Density 

NQPH  vs.  Seoul Comp

 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, NQPH is expected to generate 1.06 times more return on investment than Seoul Comp. However, NQPH is 1.06 times more volatile than Seoul Comp. It trades about 0.1 of its potential returns per unit of risk. Seoul Comp is currently generating about -0.1 per unit of risk. If you would invest  95,650  in NQPH on November 18, 2018 and sell it today you would earn a total of  4,776  from holding NQPH or generate 4.99% return on investment over 30 days.

Pair Corralation between NQPH and Seoul Comp

Time Period2 Months [change]
ValuesDaily Returns

Diversification Opportunities for NQPH and Seoul Comp

NQPH diversification synergy

Very good diversification

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

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See also your portfolio center. Please also try Piotroski F Score module to get piotroski f score based on binary analysis strategy of nine different fundamentals.