Pair Correlation Between Madrid Gnrl and NQPH

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

Pair Volatility

Assuming 30 trading days horizon, Madrid Gnrl is expected to generate 0.93 times more return on investment than NQPH. However, Madrid Gnrl is 1.07 times less risky than NQPH. It trades about -0.03 of its potential returns per unit of risk. NQPH is currently generating about -0.29 per unit of risk. If you would invest  99,684  in Madrid Gnrl on February 17, 2018 and sell it today you would lose (531.00)  from holding Madrid Gnrl or give up 0.53% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Madrid Gnrl and NQPH


Time Period1 Month [change]
ValuesDaily Returns


Average diversification

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

Comparative Volatility

 Predicted Return Density