Correlation Analysis Between NQTH and NQPH

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

NQTH  vs.  NQPH

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, NQTH is expected to generate 0.93 times more return on investment than NQPH. However, NQTH is 1.07 times less risky than NQPH. It trades about 0.21 of its potential returns per unit of risk. NQPH is currently generating about -0.24 per unit of risk. If you would invest  113,678  in NQTH on August 24, 2018 and sell it today you would earn a total of  4,980  from holding NQTH or generate 4.38% return on investment over 30 days.

Pair Corralation between NQTH and NQPH

0.0
Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Pay attention

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

Comparative Volatility

My Equities

My Current Equities and Potential Positions

View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1171.09

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 Price Transformation module to use price transformation models to analyze depth of different equity instruments across global markets.


 
Search macroaxis.com