Pair Correlation 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.
 Time Horizon     30 Days    Login   to change
 Taiwan Wtd  vs   NQPH
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Taiwan Wtd is expected to generate 1.62 times more return on investment than NQPH. However, Taiwan Wtd is 1.62 times more volatile than NQPH. It trades about -0.17 of its potential returns per unit of risk. NQPH is currently generating about -0.42 per unit of risk. If you would invest  1,116,595  in Taiwan Wtd on January 25, 2018 and sell it today you would lose (50,357)  from holding Taiwan Wtd or give up 4.51% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Taiwan Wtd and NQPH


Time Period1 Month [change]
ValuesDaily Returns


Very weak 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.

Comparative Volatility

 Predicted Return Density