This module allows you to analyze existing cross correlation between Coupa Software Incorporated and NQTH. You can compare the effects of market volatilities on Coupa Software and NQTH 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 Coupa Software with a short position of NQTH. See also your portfolio center. Please also check ongoing floating volatility patterns of Coupa Software and NQTH.
|Horizon||30 Days Login to change|
Predicted Return Density
Coupa Software Incorporated vs. NQTH
Given the investment horizon of 30 days, Coupa Software Incorporated is expected to generate 2.89 times more return on investment than NQTH. However, Coupa Software is 2.89 times more volatile than NQTH. It trades about 0.14 of its potential returns per unit of risk. NQTH is currently generating about -0.19 per unit of risk. If you would invest 12,506 in Coupa Software Incorporated on July 22, 2019 and sell it today you would earn a total of 1,785 from holding Coupa Software Incorporated or generate 14.27% return on investment over 30 days.
Pair Corralation between Coupa Software and NQTH
|Time Period||2 Months [change]|
Diversification Opportunities for Coupa Software and NQTH
Overlapping area represents the amount of risk that can be diversified away by holding Coupa Software Incorporated and NQTH in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NQTH and Coupa Software 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 Coupa Software Incorporated are associated (or correlated) with NQTH. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NQTH has no effect on the direction of Coupa Software i.e. Coupa Software and NQTH go up and down completely randomly.
See also your portfolio center. Please also try Cryptocurrency Correlation module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins and exchanges.