Correlation Analysis Between OSE All and NQTH

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

OSE All  vs.  NQTH

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, OSE All is expected to generate 1.54 times less return on investment than NQTH. But when comparing it to its historical volatility, OSE All is 1.19 times less risky than NQTH. It trades about 0.13 of its potential returns per unit of risk. NQTH is currently generating about 0.17 of returns per unit of risk over similar time horizon. If you would invest  114,182  in NQTH on August 21, 2018 and sell it today you would earn a total of  4,288  from holding NQTH or generate 3.76% return on investment over 30 days.

Pair Corralation between OSE All and NQTH

0.75
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Poor diversification

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

 Predicted Return Density 
      Returns 

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