This module allows you to analyze existing cross correlation between NQTH and IPC. You can compare the effects of market volatilities on NQTH and IPC 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 IPC. See also your portfolio center
. Please also check ongoing floating volatility patterns of NQTH
NQTH vs. IPC
Assuming 30 trading days horizon, NQTH is expected to under-perform the IPC. In addition to that, NQTH is 1.6 times more volatile than IPC. It trades about -0.18 of its total potential returns per unit of risk. IPC is currently generating about 0.18 per unit of volatility. If you would invest 4,666,087 in IPC on June 17, 2018 and sell it today you would earn a total of 179,334 from holding IPC or generate 3.84% return on investment over 30 days.
Pair Corralation between NQTH and IPC
|Time Period||1 Month [change]|
Overlapping area represents the amount of risk that can be diversified away by holding NQTH and IPC in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on IPC 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 IPC. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of IPC has no effect on the direction of NQTH i.e. NQTH and IPC go up and down completely randomly.
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