Pair Correlation Between XU100 and NQEGT

This module allows you to analyze existing cross correlation between XU100 and NQEGT. You can compare the effects of market volatilities on XU100 and NQEGT 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 XU100 with a short position of NQEGT. See also your portfolio center. Please also check ongoing floating volatility patterns of XU100 and NQEGT.
 Time Horizon     30 Days    Login   to change
 XU100  vs   NQEGT
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, XU100 is expected to under-perform the NQEGT. In addition to that, XU100 is 1.13 times more volatile than NQEGT. It trades about -0.08 of its total potential returns per unit of risk. NQEGT is currently generating about 0.07 per unit of volatility. If you would invest  115,100  in NQEGT on January 24, 2018 and sell it today you would earn a total of  1,523  from holding NQEGT or generate 1.32% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between XU100 and NQEGT


Time Period1 Month [change]
ValuesDaily Returns


Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding XU100 and NQEGT in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NQEGT and XU100 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 XU100 are associated (or correlated) with NQEGT. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NQEGT has no effect on the direction of XU100 i.e. XU100 and NQEGT go up and down completely randomly.

Comparative Volatility

 Predicted Return Density