Correlation Analysis Between SPTSX Comp and NQEGT

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

SPTSX Comp  vs.  NQEGT

 Performance (%) 
      Timeline 

Pair Volatility

If you would invest (100.00)  in NQEGT on May 18, 2019 and sell it today you would earn a total of  100.00  from holding NQEGT or generate -100.0% return on investment over 30 days.

Pair Corralation between SPTSX Comp and NQEGT

0.0
Time Period2 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for SPTSX Comp and NQEGT

SPTSX Comp diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding SPTSX Comp and NQEGT in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NQEGT and SPTSX Comp 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 SPTSX Comp 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 SPTSX Comp i.e. SPTSX Comp and NQEGT go up and down completely randomly.
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See also your portfolio center. Please also try Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.


 
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