Correlation Analysis Between NQTH and NYSE

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

 Predicted Return Density 
      Returns 

NQTH  vs.  NYSE

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, NQTH is expected to generate 0.88 times more return on investment than NYSE. However, NQTH is 1.13 times less risky than NYSE. It trades about -0.11 of its potential returns per unit of risk. NYSE is currently generating about -0.16 per unit of risk. If you would invest  111,498  in NQTH on November 18, 2018 and sell it today you would lose (5,232)  from holding NQTH or give up 4.69% of portfolio value over 30 days.

Pair Corralation between NQTH and NYSE

0.48
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy95.24%
ValuesDaily Returns

Diversification Opportunities for NQTH and NYSE

NQTH diversification synergy

Very weak diversification

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