Pair Correlation Between OSE All and NQEGT

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

Pair Volatility

Assuming 30 trading days horizon, OSE All is expected to generate 13.99 times less return on investment than NQEGT. But when comparing it to its historical volatility, OSE All is 1.12 times less risky than NQEGT. It trades about 0.06 of its potential returns per unit of risk. NQEGT is currently generating about 0.73 of returns per unit of risk over similar time horizon. If you would invest  114,594  in NQEGT on February 15, 2018 and sell it today you would earn a total of  16,020  from holding NQEGT or generate 13.98% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between OSE All and NQEGT


Time Period1 Month [change]
ValuesDaily Returns


Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding OSE All and NQEGT in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NQEGT and OSE All 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 OSE All 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 OSE All i.e. OSE All and NQEGT go up and down completely randomly.

Comparative Volatility

 Predicted Return Density