Correlation Analysis Between NQTH and IBEX 35

This module allows you to analyze existing cross correlation between NQTH and IBEX 35. You can compare the effects of market volatilities on NQTH and IBEX 35 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 IBEX 35. See also your portfolio center. Please also check ongoing floating volatility patterns of NQTH and IBEX 35.
Horizon     30 Days    Login   to change

NQTH  vs.  IBEX 35

 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, NQTH is expected to generate 1.09 times more return on investment than IBEX 35. However, NQTH is 1.09 times more volatile than IBEX 35. It trades about 0.1 of its potential returns per unit of risk. IBEX 35 is currently generating about -0.07 per unit of risk. If you would invest  115,544  in NQTH on August 26, 2018 and sell it today you would earn a total of  2,365  from holding NQTH or generate 2.05% return on investment over 30 days.

Pair Corralation between NQTH and IBEX 35

Time Period1 Month [change]
ValuesDaily Returns


Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding NQTH and IBEX 35 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on IBEX 35 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 IBEX 35. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of IBEX 35 has no effect on the direction of NQTH i.e. NQTH and IBEX 35 go up and down completely randomly.

Comparative Volatility

My Equities

My Current Equities and Potential Positions

View AllNext
GOOG - USA Stock
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Cryptocurrency Correlation module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins and exchanges.