Correlation Analysis Between Shanghai and NQTH

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

Shanghai  vs.  NQTH

 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Shanghai is expected to generate 18.68 times less return on investment than NQTH. In addition to that, Shanghai is 1.26 times more volatile than NQTH. It trades about 0.01 of its total potential returns per unit of risk. NQTH is currently generating about 0.13 per unit of volatility. If you would invest  107,128  in NQTH on June 23, 2018 and sell it today you would earn a total of  2,591  from holding NQTH or generate 2.42% return on investment over 30 days.

Pair Corralation between Shanghai and NQTH

Time Period1 Month [change]
StrengthVery Weak
ValuesDaily Returns


Very good diversification

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

Comparative Volatility

 Predicted Return Density 

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