Correlation Analysis Between OSE All and NQFI

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

 Predicted Return Density 
      Returns 

OSE All  vs.  NQFI

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, OSE All is expected to generate 1.21 times less return on investment than NQFI. In addition to that, OSE All is 1.22 times more volatile than NQFI. It trades about 0.2 of its total potential returns per unit of risk. NQFI is currently generating about 0.3 per unit of volatility. If you would invest  138,303  in NQFI on January 21, 2019 and sell it today you would earn a total of  14,693  from holding NQFI or generate 10.62% return on investment over 30 days.

Pair Corralation between OSE All and NQFI

0.75
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy97.22%
ValuesDaily Returns

Diversification Opportunities for OSE All and NQFI

OSE All diversification synergy

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding OSE All and NQFI in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NQFI and OSE All 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 OSE All 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 OSE All i.e. OSE All and NQFI go up and down completely randomly.
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