Correlation Analysis Between NQTH and SP 500

This module allows you to analyze existing cross correlation between NQTH and S&P 500. You can compare the effects of market volatilities on NQTH and SP 500 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 NQTH with a short position of SP 500. See also your portfolio center. Please also check ongoing floating volatility patterns of NQTH and SP 500.
Horizon     30 Days    Login   to change

NQTH  vs.  S&P 500

 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, NQTH is expected to generate 0.74 times more return on investment than SP 500. However, NQTH is 1.35 times less risky than SP 500. It trades about -0.06 of its potential returns per unit of risk. S&P 500 is currently generating about -0.08 per unit of risk. If you would invest  112,897  in NQTH on November 11, 2018 and sell it today you would lose (3,285)  from holding NQTH or give up 2.91% of portfolio value over 30 days.

Pair Corralation between NQTH and SP 500

Time Period2 Months [change]
ValuesDaily Returns


NQTH diversification synergy

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding NQTH and S&P 500 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on SP 500 and NQTH 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 NQTH are associated (or correlated) with SP 500. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SP 500 has no effect on the direction of NQTH i.e. NQTH and SP 500 go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 

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See also your portfolio center. Please also try Fundamental Analysis module to view fundamental data based on most recent published financial statements.