Correlation Analysis Between NQTH and Shanghai

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

NQTH  vs.  Shanghai

 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, NQTH is expected to generate 0.97 times more return on investment than Shanghai. However, NQTH is 1.03 times less risky than Shanghai. It trades about 0.13 of its potential returns per unit of risk. Shanghai is currently generating about 0.05 per unit of risk. If you would invest  115,544  in NQTH on August 25, 2018 and sell it today you would earn a total of  2,796  from holding NQTH or generate 2.42% return on investment over 30 days.

Pair Corralation between NQTH and Shanghai

Time Period1 Month [change]
ValuesDaily Returns


Pay attention

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

Comparative Volatility

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