Correlation Analysis Between NASDAQ UK and NQPH |
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This module allows you to analyze existing cross correlation between NASDAQ UK and NQPH. You can compare the effects of market volatilities on NASDAQ UK 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 NASDAQ UK with a short position of NQPH. See also your portfolio center. Please also check ongoing floating volatility patterns of NASDAQ UK and NQPH.
| Horizon | 30 Days Login to change |
| Symbols | vs |
Comparative Performance
NASDAQ UK vs. NQPH
Pair Volatility
Assuming 30 trading days horizon, NASDAQ UK is expected to generate 0.88 times more return on investment than NQPH. However, NASDAQ UK is 1.14 times less risky than NQPH. It trades about 0.27 of its potential returns per unit of risk. NQPH is currently generating about 0.17 per unit of risk. If you would invest 92,213 in NASDAQ UK on January 20, 2019 and sell it today you would earn a total of 9,127 from holding NASDAQ UK or generate 9.9% return on investment over 30 days.
Pair Corralation between NASDAQ UK and NQPH
0.92
| Time Period | 2 Months [change] |
| Direction | Positive |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Diversification Opportunities for NASDAQ UK and NQPH
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding NASDAQ UK and NQPH in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NQPH and NASDAQ UK 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 UK 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 NASDAQ UK i.e. NASDAQ UK and NQPH go up and down completely randomly.
Thematic Opportunities
Explore Investment Opportunities
NASDAQ UK
Pair trading matchups for NASDAQ UK
NQPH
Pair trading matchups for NQPH
See also your portfolio center. Please also try Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
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