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|
Predicted Return Density
Taiwan Wtd vs. NQPH
Assuming 30 trading days horizon, Taiwan Wtd is expected to generate 0.65 times more return on investment than NQPH. However, Taiwan Wtd is 1.54 times less risky than NQPH. It trades about 0.05 of its potential returns per unit of risk. NQPH is currently generating about 0.01 per unit of risk. If you would invest 1,094,726 in Taiwan Wtd on September 17, 2019 and sell it today you would earn a total of 21,557 from holding Taiwan Wtd or generate 1.97% return on investment over 30 days.
Pair Corralation between Taiwan Wtd and NQPH
|Time Period||3 Months [change]|
Diversification Opportunities for Taiwan Wtd and NQPH
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.
See also your portfolio center. Please also try Fundamental Analysis module to view fundamental data based on most recent published financial statements.