Correlation Analysis Between Taiwan Wtd and NQFI

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

Taiwan Wtd  vs.  NQFI

 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Taiwan Wtd is expected to generate 0.91 times more return on investment than NQFI. However, Taiwan Wtd is 1.1 times less risky than NQFI. It trades about -0.08 of its potential returns per unit of risk. NQFI is currently generating about -0.13 per unit of risk. If you would invest  1,004,581  in Taiwan Wtd on November 11, 2018 and sell it today you would lose (33,877)  from holding Taiwan Wtd or give up 3.37% of portfolio value over 30 days.

Pair Corralation between Taiwan Wtd and NQFI

Time Period2 Months [change]
ValuesDaily Returns


Taiwan Wtd diversification synergy

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 

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See also your portfolio center. Please also try Chance of Distress module to get analysis of equity chance of financial distress in the next 2 years.