Correlation Analysis Between NYSE and NQEGT

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

 Predicted Return Density 
      Returns 

NYSE  vs.  NQEGT

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, NYSE is expected to under-perform the NQEGT. But the index apears to be less risky and, when comparing its historical volatility, NYSE is 1.14 times less risky than NQEGT. The index trades about -0.16 of its potential returns per unit of risk. The NQEGT is currently generating about -0.05 of returns per unit of risk over similar time horizon. If you would invest  109,797  in NQEGT on November 18, 2018 and sell it today you would lose (3,388)  from holding NQEGT or give up 3.09% of portfolio value over 30 days.

Pair Corralation between NYSE and NQEGT

0.5
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy95.35%
ValuesDaily Returns

Diversification Opportunities for NYSE and NQEGT

NYSE diversification synergy

Very weak diversification

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