Pair Correlation Between NQPH and OMXRGI

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

Pair Volatility

Assuming 30 trading days horizon, NQPH is expected to generate 1.14 times less return on investment than OMXRGI. In addition to that, NQPH is 1.39 times more volatile than OMXRGI. It trades about 0.29 of its total potential returns per unit of risk. OMXRGI is currently generating about 0.46 per unit of volatility. If you would invest  99,301  in OMXRGI on December 21, 2017 and sell it today you would earn a total of  4,724  from holding OMXRGI or generate 4.76% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between NQPH and OMXRGI


Time Period1 Month [change]
ValuesDaily Returns


Poor diversification

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

Comparative Volatility

 Predicted Return Density