Correlation Analysis Between NQPH and Shanghai

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

NQPH  vs.  Shanghai

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, NQPH is expected to generate 0.93 times more return on investment than Shanghai. However, NQPH is 1.07 times less risky than Shanghai. It trades about 0.16 of its potential returns per unit of risk. Shanghai is currently generating about -0.03 per unit of risk. If you would invest  95,107  in NQPH on June 22, 2018 and sell it today you would earn a total of  3,662  from holding NQPH or generate 3.85% return on investment over 30 days.

Pair Corralation between NQPH and Shanghai

-0.68
Time Period1 Month [change]
DirectionNegative 
StrengthWeak
Accuracy79.31%
ValuesDaily Returns

Diversification

Excellent diversification

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

 Predicted Return Density 
      Returns 

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Alphabet
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ExchangeNASDAQ
$1186.96

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