Pair Correlation Between FTSE MIB and NQFI

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

FTSE MIB  vs.  NQFI

 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  2,320,266  in FTSE MIB on March 20, 2018 and sell it today you would earn a total of  0.00  from holding FTSE MIB or generate 0.0% return on investment over 30 days.

Pair Corralation between FTSE MIB and NQFI

-0.47
Time Period2 Months [change]
DirectionNegative 
StrengthVery Weak
Accuracy2.17%
ValuesDaily Returns

Diversification

Very good diversification

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

 Predicted Return Density 
      Returns 

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Alphabet
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See also your portfolio center. Please also try Pattern Recognition module to use different pattern recognition models to time the market across multiple global exchanges.