Correlation Analysis Between NQTH and Nasdaq

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

NQTH  vs.  Nasdaq

 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, NQTH is expected to generate 0.6 times more return on investment than Nasdaq. However, NQTH is 1.67 times less risky than Nasdaq. It trades about -0.16 of its potential returns per unit of risk. Nasdaq is currently generating about -0.11 per unit of risk. If you would invest  113,678  in NQTH on October 17, 2018 and sell it today you would lose (4,762)  from holding NQTH or give up 4.19% of portfolio value over 30 days.

Pair Corralation between NQTH and Nasdaq

Time Period1 Month [change]
ValuesDaily Returns


NQTH diversification synergy

Very poor diversification

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

Comparative Volatility

 Predicted Return Density 

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See also your portfolio center. Please also try Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.