Pair Correlation Between Russell 2000 and NQPH

This module allows you to analyze existing cross correlation between Russell 2000 and NQPH. You can compare the effects of market volatilities on Russell 2000 and NQPH 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 Russell 2000 with a short position of NQPH. See also your portfolio center. Please also check ongoing floating volatility patterns of Russell 2000 and NQPH.
 Time Horizon     30 Days    Login   to change
 Russell 2000   vs   NQPH
 Performance (%) 

Pair Volatility

Given the investment horizon of 30 days, Russell 2000 is expected to generate 1.55 times less return on investment than NQPH. But when comparing it to its historical volatility, Russell 2000 is 1.17 times less risky than NQPH. It trades about 0.19 of its potential returns per unit of risk. NQPH is currently generating about 0.25 of returns per unit of risk over similar time horizon. If you would invest  120,187  in NQPH on December 18, 2017 and sell it today you would earn a total of  5,263  from holding NQPH or generate 4.38% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Russell 2000 and NQPH


Time Period1 Month [change]
ValuesDaily Returns


Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Russell 2000 and NQPH in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NQPH and Russell 2000 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 Russell 2000 are associated (or correlated) with NQPH. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NQPH has no effect on the direction of Russell 2000 i.e. Russell 2000 and NQPH go up and down completely randomly.

Comparative Volatility

 Predicted Return Density