Correlation Analysis Between ATX and NQFI

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

 Predicted Return Density 
      Returns 

ATX  vs.  NQFI

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, ATX is expected to generate 2.13 times more return on investment than NQFI. However, ATX is 2.13 times more volatile than NQFI. It trades about 0.14 of its potential returns per unit of risk. NQFI is currently generating about 0.26 per unit of risk. If you would invest  272,850  in ATX on January 20, 2019 and sell it today you would earn a total of  28,728  from holding ATX or generate 10.53% return on investment over 30 days.

Pair Corralation between ATX and NQFI

-0.34
Time Period2 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy97.37%
ValuesDaily Returns

Diversification Opportunities for ATX and NQFI

ATX diversification synergy

Very good diversification

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