Pair Correlation Between Russia TR and NQEGT

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

Russia TR  vs.  NQEGT

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Russia TR is expected to under-perform the NQEGT. In addition to that, Russia TR is 2.16 times more volatile than NQEGT. It trades about -0.08 of its total potential returns per unit of risk. NQEGT is currently generating about 0.46 per unit of volatility. If you would invest  116,623  in NQEGT on March 26, 2018 and sell it today you would earn a total of  23,080  from holding NQEGT or generate 19.79% return on investment over 30 days.

Pair Corralation between Russia TR and NQEGT

0.99
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

No risk reduction

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

 Predicted Return Density 
      Returns 

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