Correlation Analysis Between NQTH and XU100

This module allows you to analyze existing cross correlation between NQTH and XU100. You can compare the effects of market volatilities on NQTH and XU100 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 XU100. See also your portfolio center. Please also check ongoing floating volatility patterns of NQTH and XU100.
 Time Horizon     30 Days    Login   to change
Symbolsvs

NQTH  vs.  XU100

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, NQTH is expected to generate 0.49 times more return on investment than XU100. However, NQTH is 2.06 times less risky than XU100. It trades about 0.01 of its potential returns per unit of risk. XU100 is currently generating about -0.13 per unit of risk. If you would invest  109,096  in NQTH on May 23, 2018 and sell it today you would earn a total of  1,677  from holding NQTH or generate 1.54% return on investment over 30 days.

Pair Corralation between NQTH and XU100

0.0
Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy7.61%
ValuesDaily Returns

Diversification

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding NQTH and XU100 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on XU100 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 XU100. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of XU100 has no effect on the direction of NQTH i.e. NQTH and XU100 go up and down completely randomly.
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Comparative Volatility

 Predicted Return Density 
      Returns 

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See also your portfolio center. Please also try Coins and Tokens Correlation module to utilize digital token correlation table to build portfolio of cryptocurrencies across multiple exchanges.