Pair Correlation Between Nasdaq and NYSE

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

Pair Volatility

Assuming 30 trading days horizon, Nasdaq is expected to generate 1.14 times more return on investment than NYSE. However, Nasdaq is 1.14 times more volatile than NYSE. It trades about -0.03 of its potential returns per unit of risk. NYSE is currently generating about -0.12 per unit of risk. If you would invest  733,638  in Nasdaq on January 19, 2018 and sell it today you would lose (9,691)  from holding Nasdaq or give up 1.32% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Nasdaq and NYSE


Time Period1 Month [change]
StrengthVery Strong
ValuesDaily Returns


Almost no diversification

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

Comparative Volatility

 Predicted Return Density