Correlation Analysis Between NQTH and OSE All

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

NQTH  vs.  OSE All

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, NQTH is expected to generate 0.92 times more return on investment than OSE All. However, NQTH is 1.08 times less risky than OSE All. It trades about 0.07 of its potential returns per unit of risk. OSE All is currently generating about -0.03 per unit of risk. If you would invest  108,165  in NQTH on June 22, 2018 and sell it today you would earn a total of  1,554  from holding NQTH or generate 1.44% return on investment over 30 days.

Pair Corralation between NQTH and OSE All

-0.52
Time Period1 Month [change]
DirectionNegative 
StrengthVery Weak
Accuracy76.67%
ValuesDaily Returns

Diversification

Excellent diversification

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

 Predicted Return Density 
      Returns 

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GOOG - USA Stock
Alphabet
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IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1186.96

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