Correlation Analysis Between Taiwan Wtd and NQPH

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

Taiwan Wtd  vs.  NQPH

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Taiwan Wtd is expected to under-perform the NQPH. But the index apears to be less risky and, when comparing its historical volatility, Taiwan Wtd is 1.13 times less risky than NQPH. The index trades about -0.01 of its potential returns per unit of risk. The NQPH is currently generating about 0.18 of returns per unit of risk over similar time horizon. If you would invest  93,134  in NQPH on November 13, 2018 and sell it today you would earn a total of  9,246  from holding NQPH or generate 9.93% return on investment over 30 days.

Pair Corralation between Taiwan Wtd and NQPH

-0.36
Time Period2 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy81.82%
ValuesDaily Returns

Diversification

Taiwan Wtd diversification synergy

Very good diversification

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

 Predicted Return Density 
      Returns 

My Equities

My Current Equities and Potential Positions

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TGT - USA Stock
Target Corporation
Specialization
Consumer, Diversified Wholesale And Retail
RegionNorth America
ExchangeNew York Stock Exchange
$66.68

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See also your portfolio center. Please also try Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.


 
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