Correlation Analysis Between Swiss Mrt and NQPH

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

 Predicted Return Density 
      Returns 

Swiss Mrt  vs.  NQPH

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Swiss Mrt is expected to under-perform the NQPH. But the index apears to be less risky and, when comparing its historical volatility, Swiss Mrt is 1.07 times less risky than NQPH. The index trades about -0.07 of its potential returns per unit of risk. The NQPH is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest  95,650  in NQPH on November 18, 2018 and sell it today you would earn a total of  4,704  from holding NQPH or generate 4.92% return on investment over 30 days.

Pair Corralation between Swiss Mrt and NQPH

-0.1
Time Period2 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy97.67%
ValuesDaily Returns

Diversification Opportunities for Swiss Mrt and NQPH

Swiss Mrt diversification synergy

Good diversification

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