Correlation Analysis Between Shanghai and NQFI

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

Shanghai  vs.  NQFI

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Shanghai is expected to generate 1.62 times less return on investment than NQFI. In addition to that, Shanghai is 1.01 times more volatile than NQFI. It trades about 0.07 of its total potential returns per unit of risk. NQFI is currently generating about 0.12 per unit of volatility. If you would invest  160,620  in NQFI on August 27, 2018 and sell it today you would earn a total of  4,508  from holding NQFI or generate 2.81% return on investment over 30 days.

Pair Corralation between Shanghai and NQFI

0.0
Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy95.65%
ValuesDaily Returns

Diversification

Pay attention

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

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