This module allows you to analyze existing cross correlation between NYSE and NQEGT. You can compare the effects of market volatilities on NYSE 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 NYSE with a short position of NQEGT. See also your portfolio center. Please also check ongoing floating volatility patterns of NYSE and NQEGT.
Given the investment horizon of 30 days, NYSE is expected to generate 0.71 times more return on investment than NQEGT. However, NYSE is 1.41 times less risky than NQEGT. It trades about 0.1 of its potential returns per unit of risk. NQEGT is currently generating about -0.37 per unit of risk. If you would invest 1,263,957 in NYSE on June 22, 2018 and sell it today you would earn a total of 15,034 from holding NYSE or generate 1.19% return on investment over 30 days.
Overlapping area represents the amount of risk that can be diversified away by holding NYSE and NQEGT in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NQEGT and NYSE 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 NYSE 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 NYSE i.e. NYSE and NQEGT go up and down completely randomly.
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