Correlation Analysis Between DOW and NQPH

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

DOW  vs.  NQPH

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, DOW is expected to generate 0.72 times more return on investment than NQPH. However, DOW is 1.39 times less risky than NQPH. It trades about -0.04 of its potential returns per unit of risk. NQPH is currently generating about -0.3 per unit of risk. If you would invest  2,436,145  in DOW on May 26, 2018 and sell it today you would lose (17,344)  from holding DOW or give up 0.71% of portfolio value over 30 days.

Pair Corralation between DOW and NQPH

0.39
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy67.74%
ValuesDaily Returns

Diversification

Weak diversification

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