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This module allows you to analyze existing cross correlation between Hang Seng and NQFI. You can compare the effects of market volatilities on Hang Seng 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 Hang Seng with a short position of NQFI. See also your portfolio center. Please also check ongoing floating volatility patterns of Hang Seng and NQFI.
|Horizon||30 Days Login to change|
Predicted Return Density
Hang Seng vs. NQFI
Given the investment horizon of 30 days, Hang Seng is expected to generate 1.05 times more return on investment than NQFI. However, Hang Seng is 1.05 times more volatile than NQFI. It trades about 0.35 of its potential returns per unit of risk. NQFI is currently generating about 0.26 per unit of risk. If you would invest 2,575,342 in Hang Seng on January 20, 2019 and sell it today you would earn a total of 247,471 from holding Hang Seng or generate 9.61% return on investment over 30 days.
Pair Corralation between Hang Seng and NQFI
|Time Period||2 Months [change]|
Diversification Opportunities for Hang Seng and NQFI
Overlapping area represents the amount of risk that can be diversified away by holding Hang Seng and NQFI in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NQFI and Hang Seng 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 Hang Seng 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 Hang Seng i.e. Hang Seng and NQFI go up and down completely randomly.